Believers in the market's recent rally got a bit of a reality check today, as both global and U.S. stock indices sold off heavily today following several dismal macroeconomic storylines. The Dow Jones Industrial Average
Things got even uglier for international stocks. Many global indices took twice the beating, with many falling 2% or more during the day's trading. Investors' alarm bells sounded loud and clear following weak demand for a fresh round of Spanish debt, causing Spain's borrowing costs to rise to its highest levels since the around the beginning of the year. Who knew Europe's fiscal house still wasn't back in order?
Around the markets
Every sector of the market ended the day down, and commodities ended with mixed results. Natural gas futures dropped substantially ahead of tomorrow's inventory report from the Department of Energy, forcing natural gas-related stocks deep into the red. Shares of nat gas play Westport Innovations
Shares of Microsoft
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Andrew Tonner held no financial position in any of the firms mentioned in this article at the time of its publication. The Motley Fool owns shares of Microsoft. Motley Fool newsletter services have recommended buying shares of Nokia, Westport Innovations, and Microsoft and creating a bull call spread position in Microsoft. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.