It's been a rough few days for the Dow Jones Industrial Average
|Dow Jones Industrial Average||-213.66 [-1.65%]||12,715.93|
|S&P 500||-23.61 [-1.71%]||1,358.59|
Just over a week after ending its best quarter since 1998, the Dow has now declined in five straight trading days. The sell-off began last week, when the minutes from the Federal Reserve's latest meeting led investors to believe that there will probably be no additional stimulus in the short term. Then, a disappointing U.S. jobs report showed that U.S. employers added 85,000 fewer jobs in March than expected. Because of holidays, the markets didn't digest the report until Monday in the U.S. and today in Europe.
On top of disappointing U.S. jobs numbers, renewed concerns over European countries' debt loads helped push the Dow down. The Stoxx Europe 600 Index dropped 2.5% today to close at a six-week low. Spain, in particular, is becoming more and more of a worry for investors on both sides of the pond. Spanish bond yields are at their highest levels this year, and Spanish stocks have hit their lowest levels in three years.
As is many times the case with market sell-offs on macroeconomic news, Bank of America
Outside the Dow, one of the biggest losers was Best Buy
Interestingly, the biggest winner on the day is a company that declined nearly 3% during normal trading hours today. That company is Alcoa
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Brendan Byrnes owns shares of Caterpillar. 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.