Today, industrials editor and analyst Brendan Byrnes talks about what's dragging down the Dow through midday trading. Spain is a main catalyst for the Dow's drop, as its benchmark 10-year bond yields rose again above 7%, a level that's considered unsustainable. Spain also cut its 2013 GDP forecast, predicting now that GDP would contract 0.5% in 2013 versus the 0.2% growth previously forecast. With earnings season in full swing, a number of blue chips reported after hours last night or this morning. General Electric slightly beat expectations, as did Microsoft, though it technically posted a loss due to the writedown in the value of its online unit. Outside the Dow, Google reported impressive earnings last night, growing EPS by 11% and revenue by a whopping 35%. Check out the video below for more on what's driving the Dow today, as well as individual winners and losers.
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