First the scoreboard:
Dow: 13,413, -44.0, -0.3 percent
S&P 500: 1,433, -8.2, -0.5 percent
NASDAQ: 3,093, -24.0, -0.7 percent
And now the top stories:
Investors in European stocks where happy to see markets those markets close today. While markets closed off of their lows, they still got crushed. Italy sank 3.3 percent. Spain tanked 3.9 percent and its borrowing costs surged. Spain is waiting for its leaders to unveil the country's new budget. But everyone expects it to come with harsh spending cuts. Spaniards took to the streets in protest again today. Greece's two largest labor unions also went on strike today, and things got violent. Here Are Photos Of The Giant Protests Rocking Greece And Spain >
The German stock market also took it on the chin today, falling 2 percent. The largest economy in Europe went into the debt markets to sell 5 billion euros worth of bonds, but they were only able to sell 3.19 billion euros worth. Furthermore, their borrowing costs jumped to 1.52 percent from a 1.42 percent at a prior auction for similar debt.