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.
http://finance.yahoo.com/news/Wall-Street-sinks-on-eurozone-rb-1673882029.html?x=0&.v=18
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