June 1, 2012
Stocks are being hammered as Europe’s debt crisis remains unresolved and the U.S. economy is showing new signs of distress.
The S&P 500 (SPX) index is down nearly 10% from its most recent high in April, which means the broad stock market is approaching what investors call a correction.
The Dow Jones industrial average (INDU) has tumbled nearly 9% from its highest point of the year, while the Nasdaq (COMP) has lost nearly 12% from its peak.
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