US Stocks Down After Glum Reports from Europe
(NEW YORK) -- The U.S. economy is a global one, and for better or worse, it's tied to Europe. A dismal report about bad loans on the books of Spanish banks pushed stocks down Wednesday.
The Dow dropped 83 points, while the Nasdaq lost 11 and the S&P gave up 6.
One day ago, stocks soared after Spain held a successful auction of two-year bonds. In the last 11 days of trading in the second quarter, the Dow has fallen by triple digits four times, and risen twice, with Europe as a notable factor.
As for jobs, the weekly employment numbers are due out on Thursday. Last week's figures showed employers creating jobs at a much slower rate than over the previous few weeks.
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