Euro concerns plagued the markets today, as macro fears made investors forget last week's optimism over a better-than-expected earnings season. Spanish bond yields soared to 7.5%, demonstrating investors' lack of faith in the fragile country. The euro dropped to a two-year low against the dollar, and anxiety continued to build about Spain and Greece keeping current on their debt. The pressure on the European Central Bank to rescue the flailing countries is growing. As of 12:15 p.m., the Dow Jones Industrial Average
These macro fears outweighed what has been a largely positive earnings season so far. Of the 30 Dow components, 12 have already announced quarterly earnings. Investors caught a quick breather before the action heats up later in the week, as McDonald's
McDonald's second-quarter profit fell more than expected, and the fast-food giant warned investors of slowing same-stores-sales growth in July. Unsurprisingly, shares plummeted 3.2%, making McDonald's the second-worst performer on the blue chip index behind Microsoft.
One bright spot on the Dow was industrial equipment maker Caterpillar
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