2:00 pm : Stocks remain unable to shake free from the grip of sellers, who have sent stocks to new session lows, or new multi-month lows for that matter.
Utilities stocks make up the only major sector that has managed to limit its loss to less than 1%. The sector's 0.4% decline today is quite enviable when compared with the 3.7% drop that Financials are having to endure. DJ30 -252.63 NASDAQ -72.58 SP500 -29.88 NASDAQ Adv/Vol/Dec 430/1.12 bln/2105 NYSE Adv/Vol/Dec 445/465 mln/2555
1:30 pm : Efforts to slash risk have resulted in especially steep losses for small-cap stocks. As such, the Russell 2000 has sunk to a loss of about 2.7%, which stands as its worst one-day drop of 2012. The loss has the Russell 2000 positioned for a 3.3% weekly loss, which would mark its fourth weekly loss in five weeks.DJ30 -234.47 NASDAQ -68.55 SP500 -28.21 NASDAQ Adv/Vol/Dec 460/1.01 bln/2060 NYSE Adv/Vol/Dec 455/420 mln/2530
1:00 pm : On pace for its poorest performance of 2012, the S&P 500 is at a multi-month low and sitting on its 200-day moving average following disappointing data from both home and abroad.
On top of continued concerns about the health of the financial and banking system in the eurozone, several major European countries posted disappointing PMI readings this morning. Sentiment was further undermined by one of the worst payrolls reports of the past year.
The headline unemployment rate ticked up to 8.2%, surprising many. Most economists were also surprised to learn that during May nonfarm payrolls increased by only 69,000, while nonfarm private payrolls increased by a mere 82,000.
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