Europe’s deepening crisis drags Wall Street lower
NEW YORK (Reuters) – Stocks tumbled on Wednesday as surging bond yields in Spain and Italy ratcheted up tensions in financial markets about Europe’s ability to solve its growing debt crisis. Angst over Europe drove investors away from risky assets and into safe havens. U. S. Treasury benchmark yields fell to their lowest in at least 60 years, prices for crude fell more than 3 percent and the euro dropped below $1. 24 to a 23-month low. The S&P 500 has fallen nearly 6 percent in May, heading for its worst monthly performance since September as traders focused on Europe. However, U. S. . . .
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