US Stocks Slide Amid Credit Fears

Major US stock markets closed down after confidence in the banking sector was dented further by the resignation of Citigroup's chief executive. Markets in Europe and Asia had also seen falls in reaction to Charles Prince's exit, the second departures of a leading banking boss within days. What's going on? Not only that but stock markets in London, Paris and Frankfurt all declined on Monday, as well. Shares at Citigroup also fell 4.85% to $35.90 in New York trade on Monday. Part of the problem is worries over banks' exposure to US sub-prime related debts which has been causing market instability for several months. I don't know a lot about stocks but I think the Dow is seriously inflated and it wouldn't surprise me for it to take a big fall. Like they say, you better not keep all your eggs in one basket.