NEW YORK, June 18 (Xinhua) -- Wall Street declined Wednesday on renewed concerns about the financial sector and FedEx Corp.'s warning on profits.

    Morgan Stanley, the second-largest U.S. investment bank, said its second-quarter profit fell 61 percent from a year earlier due to credit crisis.

    Morgan Stanley is the last of three U.S. investment banks to report results for the period ending March 30.

    Earlier this week, Lehman Brothers Holdings Inc. posted 2.8 billion dollars loss; while Goldman Sachs Group Inc. said Wednesday its profit fell by 11 percent.

    FedEx, the major U.S. package-shipment company, swung to a wider-than-expected loss in its fiscal fourth quarter of 241 million U.S. dollars, as the company was hurt by fuel prices and the weakening U.S. economy. Meanwhile, the company predicted that earnings per share in the first quarter may be nearly half the previous year's levels.

    The Dow Jones Industrial Average fell 131.24, or 1.08 percent, to settled at 12,029.06 after briefly falling below 12,000. The Standard & Poor's 500 index fell 13.12, or 0.97 percent, to 1,337.81, and the Nasdaq composite index fell 28.02, or 1.14 percent, to2,429.71.