The DOMINO effect: after three days of bad news about the debt crisis of Europe sent Asian and European markets down Monday, it was Wall Street Tower. The Dow Jones industrial average fell as much as 180 points before paring back some of its losses. An another steep downgrade of the credit rating of the Greece, a warning on the Italy debt and a major defeat of the party in power to the Spain caused new concerns about Europe's debt crisis.
DOLLAR climbs: the US dollar rose against the euro. A stronger dollar, it is more expensive for other countries buying US exports, hurt American businesses that sell goods abroad.
Indexes: the Dow Jones index fell 130.78 points, or 1.1%, to close at 12,381.26. The standard & poor 500 index has dropped from 15.90 or 1.2%, to 1,317.37. The Nasdaq composite index fell 44.42 or 1.6%, to 2,758.90.
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