Worries that the European debt crisis was becoming more contagious slammed Wall Street Wednesday, pushing the Dow Jones Industrial Average down more than 400 points in afternoon trading.
Approaching 2:30 Eastern, The Dow was down 3.29 percent, the S&P 500 was off 3.58 percent and the Nasdaq was 3.75 percent lower.
U.S. stocks had been under selling pressure from the first clang of the opening bell after Italy's borrowing costs soared above 7 percent. Investors also wanted more action than just Italian Prime Minister Sylvio Berlusconi's promise that he would step down. They took their money and ran amid rising worries that Italy, Europe's third-largest economy, would not be able to deliver on promises to get its fiscal house in order. Read More
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