Stocks turn decidedly lower as Cyprus' ruling party will apparently abstain from the bailout...

|By:, SA News Editor

Stocks turn decidedly lower as Cyprus' ruling party will apparently abstain from the bailout vote, thus assuring its failure. The ball now moves back to Brussels, where the ECB has threatened to withhold funding from Cyprus' banks if the bailout (and depositor haircut) isn't passed. Stoxx 50 (FEZ) -1.5%, S&P 500 (SPY) -0.5%, the euro (FXE) -0.5%.