Wall Street sinks on euro-zone bank troubles

Stocks slid on Monday, driving the Dow to its lowest level since February 10 as fresh signs of Europe's banking problems emerged.

The euro zone's turbulence kept investors wary of taking on risk, after the S&P 500's 4.2 percent drop last week.

Financial shares were among the day's largest decliners, with the KBW Bank index (Philadelphia:^BKX - News) falling 3.3 percent. Wells Fargo (NYSE:WFC - News) fell 4.7 percent to $28.71 after Goldman Sachs cut its rating on the stock to "neutral" from "buy."

Concerns about Europe's banking system continued to weigh on markets, after the Bank of Spain took over a small savings bank, CajaSur, over the weekend, increasing anxiety among investors worried about debt problems spreading throughout financial markets.

"What happens specifically to Greece doesn't matter a whole lot, but if you start spreading to larger countries like Spain, then it becomes an issue. That is what is causing all this right now," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.

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