NEW YORK (AP) – The U.S. stock market on Wednesday got another reminder of how its fortunes are inexorably tied to the European economy. It hardly needed it.
All three major U.S. stock indexes sank after a dismal report about bad loans on the books of Spanish banks.
The day before, U.S. stocks soared after Spain held a successful auction of 2-year bonds.The Dow Jones industrial average fell 82 points to 13,032. IBM and Intel fell the most in the Dow Wednesday, a day after reporting flat revenue for the quarter just ended.
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