The street is taking hits from all sides today. The FOMC minutes yesterday. The Spanish auction today. All the ingredients for a sharp sell off and that’s what we are are seeing intraday. Just when you thought Europe was being saved you get the news; nope, still an ongoing concern. At least today we don’t have to hear about Greece. It is all about Spain and their budgetary concerns coupled with a weak bond auction.
Decliners are leading the advancers by a 6-1 margin. Current market action is decidedly to the downside. The Dow is giving up 163 points, the Nasdaq 52 and the S&P 500 17.
Not every stock is mired in the red today. There are some advancers. [Read more...]