Wall St. lower as financials stocks weigh, oil drops

Traders work on the floor of the NYSE in New YorkGlobally stocks were hit after European Central Bank President Mario Draghi warned that monetary policy alone would not avert the risk of Europe suffering lasting economic damage from weak productivity and low growth. The ECB started buying back corporate bonds on Wednesday, which along with the concerns about Britain's referendum on European Union membership, pushed British and German sovereign debt yields to record lows. U.S. Treasury yields fell to three-and-a-half month lows on fading chances of the Federal Reserve raising interest rates at its meeting next week.



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