Stocks end near lows in two-day selloff, Dow drops 167

Stocks finished sharply lower, with the Dow tumbling more than 1%, amid concerns of stalling growth in Europe, a disappointing Q1 report from Wal-Mart, and weak confidence data from homebuilders.

Treasurys spiked higher after the economic reports crossed the wires, and continued their rally; the 10-year note added 13 ticks, pressuring its yield 5 bps to 2.50% after marking a session low at 2.47%.

The Russell 2000 fell another 0.7% to 1,087.20 after briefly entering correction territory, and the S&P 500 tested and bounced off key technical support, finishing 0.9% lower at 1,870 after climbing off its 50-day MA of ~1,865.

Adding to the negative sentiment were comments by David Tepper, who said the market has entered "nervous time."

Most key S&P sectors were in the red, led by consumer discretionary and energy.

Trading activity picked up after four straight sessions of below-average volume, a signal that investors were more aggressively trimming their riskiest holdings.

Comments (1)
  • markrpat
    , contributor
    Comments (249) | Send Message
    There is a noticeable improvement in Breaking News within SA. Kudos.
    15 May 2014, 09:57 PM Reply Like
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