Dow Crashes Nearly 161 Points

The Dow Jones industrial average came crashing down on Wednesday after a solid Tuesday, closing nearly 161 points off its starting number and landing at 12,419, well below the 13,000 mark hit earlier this year. Stocks in Europe were suffering Wednesday, as well, as investors are turning more skittish over the growing financial situations in Spain and Greece. The euro dropped to $1.24, its lowest point since summer 2010. Investors were said to be fleeing for safer bets as major averages fell more than 1 percent. The Dow has fallen 6 percent in May and is on track to register its first losing month since September. The S&P 500 and Nasdaq composite also fell on Wednesday.