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Market recap: Stocks fell sharply but moved well back from early lows. The headline story was...
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Monday, April 18, 2011, 4:05 PM ETMarket recap: Stocks fell sharply but moved well back from early lows. The headline story was S&P's downgrade of its U.S. debt outlook, but overseas markets had already been spooked by news in Europe's debt crisis, and some traders saw investors "looking for a reason to sell." The dollar and Treasurys turned higher, reacting to Europe events. Oil prices tumbled. NYSE decliners led advancers four to one.
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