Bank of America Corp. (NYSE: BAC) dropped $1.04 to close at $13.00, Citigroup Corp. (NYSE: C) plummeted $4.16 to close at $40.30, Morgan Stanley (NYSE: MS) plunged $2.77 to close at $24.52 and Wells Fargo & Co. (NYSE: WFC) tumbled $2.20 to close at $45.71 along with European banking stocks.