NEW YORK, March 15 — Wall Street stocks were back in selloff mode early Wednesday as banking shares faced a fresh hammering amid worries that more lenders could fail.
The descent in stocks marks a reversal from Tuesday's benign session, in which major indices advanced on an apparent easing of anxiety over the financial system. The losses came as large European banks suffered ugly drops of eight per cent or more while Credit Suisse plunged almost 30 per cent.