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Stocks on Wall Street slipped back on Monday, local time and pushed the Dow Jones to its lowest level since February 10 because of signs the European banking problems. Quoted from Reuters, Tuesday (25/05/2010), the turbulence in the euro zone makes investors wary of risk taking, after the S & P 500 index fell by 4.2 percent last week. Dow Jones average fell 126.82 points, or 1.24 percent to 10066.57. Index Standard & Poor’s 500 skidded 14.04 points, or 1.29 percent, to 1073.65. While the Nasdaq Composite Index fell 15.49 points, or 0.69 percent to 2213.55.

This is because of recent concerns about the debt crisis of Europe encourages investors to sell the euro is down 1.5 percent to USD1, 2383 at the end of trading in New York. In addition, financial shares were among the biggest decline in support, where the KBW banking index fell 3.3 percent. Wells Fargo also was observed to decline 4.7 percent to $ 28, 71 after Goldman Sachs cut its rating on the stock to “neutral” from “buy.”

Worries about the European banking system also continues to weigh on the market, after Bank of Spain took over a small savings bank, CajaSur, over the weekend, increasing anxiety among investors worried about debt problems spread throughout the financial markets.

“What happened specifically to the Greek far no problems, but if it started to spread to large countries such as Spain, then it becomes a problem. That’s what caused all this now,” said co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois, Peter Jankovskis.