Wall Street slides on European risk to US banks

Fitch Ratings said that though current exposure to debt from countries such as Greece and Italy was "manageable" and that "serious risk" remained if the situation in Europe worsens, Bloomberg financial news reported.
The blue-chip Dow Jones Industrial Average dropped 190.57 points, or 1.58 per cent, to 11,905.59. The broader Standard & Poor's 500 Index shed 20.9 points, or 1.66 per cent, to 1,236.91. The technology-heavy Nasdaq Composite Index fell 46.59 points, or 1.73 per cent, to 2,639.61.
The US currency rose against the euro to 74.32 euro cents from 73.87 euro cents on Tuesday. The dollar slipped against the Japanese currency to 77.02 yen from 77.04 yen.//DPA