Wall Street falls 190 points after Fitch Ratings issues a warning. Mark Lasseigne has your market report on today's Acadiana Business Index.

 
 
  • Fitch Ratings said that U.S. banks have "manageable direct exposures" to the stressed European markets, and warned that further contagion posed a serious risk. Bank shares dropped steeply after Fitch's report hit.
 
  • Target's earnings rose sales improved and the retail giant's bad-debt expenses decline. TGT down 0.4% to 52.94.
 
  • Express Scripts and Walgreen remain at odds.  The pharmacy-benefit manager and drugstore chain don't appear any closer to mending their rift and signing a new deal for 2012.  EXRS down 3.5% to 45.17, WAG down 1% to 32.22.
 
  • ConocoPhillips agreed to sell its 50% stake in the Seaway Pipeline to Enbridge for $1.15 billion.  The move sent crude oil futures surging 3.2%, as Traders said the move will unlock value in the crude, which has been largely confined to use by Midwest refiners because of its delivery to the landlocked Cushing, OK hub.
 
  • Crude oil closed at $102.59 a barrel.
 
  • And Gold settled at $1,774 an ounce