Stocks sold off moderately today, never getting above the flat level for very long.First, the scoreboard:
- Dow down 0.23%
- NASDAQ down 0.13%
- S&P 500 down 0.28%
Now, the headlines:
- Asia started the day strong, with positive sentiment out of Japan. The Tanken survey indicated good immediate term prospects for growth. Long-term optimism is a bit more suspect, however.
- Europe’s news day was dominated by continent wide protests against austerity. Check out photos of the Brussels protest here >
- A series of Fed speeches in the U.S. the questioned current growth forecasts and the power of quantitative easing II. Philly Fed President Plosser questioned QE II while saying growth would slow and Minneapolis Fed President Kocherlakota said he expected to economy to slow as well.
- Gold retained its above $1300 level, finishing its day at $1311.