Wall St. Slides, Fearing Return to a Recession - nytimes

The euro fell to its lowest level in 18 months, and bank stocks on both sides of the Atlantic took a beating.

Investors seemed fearful that the $957 billion bailout package for Greece and other nations, while providing short-term protection against default, might drag out the economic pain and hurt the financial system in the process.

A continued hammering of the euro would make European exports cheaper, but the side effect would be weaker American exports, potentially dragging the United States — and the rest of the world — back toward recession.

Wall St. Slides, Fearing Return to a Recession‎