The Dow Jones industrial average slipped below 10,000 on Monday for the first time in three months. The precarious debt situation in Europe, alongside anxiety over American deficits and the notion of shrinking big banks are leaving many investors anxious.
Shares of big banks weighed heavily on the market at the same time as astronomical deficits in Greece Spain and Portugal had analysts questioning the state of the global recovery.
The recovery of Greece is striking many as particularly challenging as the suggestion of higher taxes led civil servants to threaten to strike. Greece is only a piece of the global puzzle missing from a recovery though, stocks began to slide when China clearly stated they would cap their own growth to maintain inflation, a move that would surely put a dent in the economic rebound.
The Dow Jones industrial average is down 104 points Monday or 1.04 percent to 9,908.39. The S&P 500 fell 9.45 points or 0.89 percent to 1,056 while Nasdaq slipped 15.07 points or 0.70 percent to 2,126.05
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