Political uncertainties in Greece have sent the markets down 1% this morning. A coalition has yet to be formed in Greece by the conservative party. This gives the Left Coalition party, which opposes the EU/IMF bailout, a chance to form a government. Analysts are skeptical of a government being formed and believe another election could be held as early as June.
While Europe dominates the headlines again today, investors will also be looking at economic data closer to home this week. The jobless numbers will be extremely important to watch since they have been disappointing lately.
The Dow is currently down 100 points, the Nasdaq has dropped 33 points and the S&P 500 is down 12 points. [Read more...]