Stocks Slump on Bank Worries

Investor jitters resurfaced after management shakeups at Wachovia and Washington Mutual, and an S&P debt downgrade of three Wall Street firms

Stocks kicked off June with a broad sell-off Monday after one of the U.S.'s largest banks, Wachovia (WB), forced out its chief executive after the billions of dollars in losses from credit trouble at the company. Wachovia chief executive Ken Thompson was forced to retire, and chairman Lanty Smith will take over as interim CEO.

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