DJIA: Down 220 points to 10,930.
NASDAQ: Down 76 points to 2422.
S&P 500: Down 28 points to 1173.
Oil: Down 4% or $3.45 to $82.74 a barrel.
Gold: Down 0.8% or $10.20 to $1173.10 an ounce.
Silver: Down 4.7% or $0.89 to $17.95 an ounce.Key Gainers:
PowerShares DB US Dollar Index Bullish (UUP): $24.38 / +1.12%
NutriSystem Inc (NTRI): $22.44 / +21.30%
Overstock.com Inc (OSTK): $23.68 / +20.02%
BP plc (BP): $51.20 / +2.21%
iShares Silver Trust ETF (SLV): $17.59 / -4.51%
Financial Select Sector SPDR ETF (XLF): $16.03 / -2.67%
InterMune Inc (ITMN): $45.44 / -5.41%
Google Inc (GOOG): $506.63 / -4.52%
Now here’s what you need to know as you leave work today:
- European debt remains a viral threat bringing down global markets, as Spain, Portugal, and France’s main indices all fell dramatically in today’s trading. The euro is now upon a key break point, trading at or around 1.30 EUR/USD.
- Pharmaceutical firms Pfizer and Merck both gained today, beating market estimates for Q1 earnings. The firms were standouts on U.S. indices plagued by European debt crisis contagion fears.
- Spanish bank Banco Santander, which owns Sovereign Bank in the U.S. and Abbey in the UK, lost around 8.7% in trading today, largely on concerns over its potential exposure to European sovereign debt crises.
- The pressure continues to grow on BP over its failures to stem the flow of oil out of its offshore Gulf of Mexico platform. Its stock is up on the day, around 1.6%, though market fears over its ability to handle the costs of the cleanup show in its CDS, which has grown to 71 bps from 58.2 bps earlier today.
- Google is also under market pressure today, sliding around 4.5%. The company announced that it was entering the e-book sales market, directly in competition with Barnes and Noble, Amazon, and Apple. Barnes and Noble is down over 10% on the news.
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