May 8, 2012
Wall Street tumbled to its lowest level in two months on Tuesday as new questions emerged
over Europe’s ability to fend off a deeper crisis in the debt-stricken region.
The S&P 500 crashed through its lows for April, a level traders had seen as support, and hit bottoms from early March. The move was part of broad run to perceived safer assets.
Elections in France and Greece appeared to herald a new era of opposition to government austerity, sparking new uncertainty and came amid concern about economic growth in the United States and China.