It seems Europe collapsing outweighs any enthusiasm from mergers and acquisitions. Mind you, nothing has changed dramatically over the weekend, except a reminder that the great euro experiment continues its march toward potential oblivion. Different Spanish regions are requesting bailouts, first Valencia on Friday and now Murcia today. With dominos falling in Spain, Italy has implemented a one-week ban of short-selling on its financial institutions as investors fear there may not be enough money to bail out both countries. While a short-selling ban might relieve pressure in the short-term, it's akin to shooing flies away from a rotting carcass.
Let's take a closer look at how the three major indexes are faring and check out several stocks making headlines.
Dow Jones Industrial Average
Source: Yahoo! Finance as of 2:25 p.m.
All three indexes have declined roughly 1%, but all are up off their session lows. The Dow is faring marginally better, despite only five components in positive territory. Disappointing earnings for McDonald's
Now on to more exciting news: Mergers and acquisitions! CNOOC is looking to add Nexen
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David Williamson holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of McDonald's. Motley Fool newsletter services have recommended buying shares of McDonald's and GeoEye. The Motley Fool has a disclosure policy.
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