DJIA: Well, at least it's Friday.

[I AM NOT THAT GUY 5,715]

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NEW YORK (AP) - Stocks fell Friday as concerns emerged that the deep spending cuts called for Europe's bailout plan could slow down the continent's economy. The euro dropped to a 19-month low.

European stock markets fell more than 3 percent, leading U.S. stocks lower. Investors seeking safety from the fresh signs of distress in financial markets piled into Treasurys and gold, which hit another record.

Currency traders have been moving out of the euro throughout the week because of concerns that strict cost-cutting measures in countries like Greece, Spain and Portugal will slow the continent's economy to a crawl in the coming years. Now stock investors are also looking at those potential long-term problems.

"Clearly the action in the euro is reflecting the fact that at least currency investors don't think the bailout plan plus the austerity measures are sufficient," said Uri Landesman, president of Platinum Partners in New York. "The euro is leading the market down."

Any significant slowdown in Europe's economy could put a crimp in the U.S. recovery as well. U.S. companies that export to Europe would face weaker demand, hurting their sales and profitability.

Credit card companies fell after the Senate voted to force them to reduce fees for debit card transactions. Visa fell 8.5 percent and Mastercard fell 7.4 percent.

Earlier in the week, stocks rose sharply after a nearly $1 trillion rescue package was launched by the European Union and International Monetary Fund in hopes of containing a debt crisis in Greece. However the bailout also calls for deep spending cuts, which investors worry may lead to slower economic growth.

The euro, which is used by 16 countries, slid as low as $1.2359 in morning trading in New York, its weakest point since October 2008. The euro has dropped more than 6 percent since the beginning of the month.

http://www.istockanalyst.com/article/viewiStockNews/articleid/4122176