Global Bank Worries Trigger Stock Market Sell-Off

Stocks fell on Wall Street and in Europe due to concerns about the strength of banks on both sides of the Atlantic, with Credit Suisse's shares tumbling to a record low. The Federal Reserve's recent hikes to interest rates have raised fears of a recession and hurt prices for stocks, bonds, and other investments. Weaker-than-expected economic reports may have allayed some worries, but traders are still rushing to guess what the chaos will mean for future Fed action. Companies in the oil and gas business also tumbled as the price of crude dropped more than 3%.