Reuters - Video

EDITION: U.S. | U.K. | IN

9/11

S&P worst day since November

Monday, Feb 25, 2013 - 01:51

Feb. 25 - Summary of business headlines: U.S. stocks turn lower on Italy election fears; Goldman job cuts- sources; Barnes and Noble chairman wants his stores back; Lowe's stock falls on margin concerns. Bobbi Rebell reports.

▲ Hide Transcript

View Transcript

Stocks stumbled on Monday - the S&P 500 declining more than one percent - with banks and other financial stocks among the worst performers. The key worry: exposure to Italy's massive debt. There are concerns about gridlock after unclear results in Italy's election Monday - and the impact of a potentially divided government on the euro-zone crisis. Michael Gayed, chief investment strategist at Pension Partners, sees trouble ahead for the U.S. markets: SOUNDBITE: MICHAEL GAYED, CHIEF INVESTMENT STRATEGIST, PENSION PARTNERS (ENGLISH) SAYING: "These big moves are actually not consistent with how bull markets occur. Bull markets are not characterized by extreme ups they are characterized by under reactions, by gradual moves. The fact that over the last 2 or 3 weeks there has been gradual weakness in overseas markets, with these kind of big swings, suggests that maybe we're in some kind of changing corrective environment." Reuters has learned that Goldman Sachs plans to begin a fresh round of job cuts as early as this week. Sources familiar with the matter say its equities trading business is bracing for bigger cuts than fixed income trading. Goldman has already laid off 3,300 employees or 9 percent of its workforce over the last 2 years. The Chairman of Barnes and Noble wants his stores back. Leonard Riggio has offered to buy the bookseller's declining retail business, which would leave it to focus on its more promising Nook e-reader and college bookstores. Shares of Barnes and Noble jumped on the news. Shares of Lowe's were lower. The company reported stronger than expected quarterly results but its margin forecast disappointed many on Wall Street. Taking a look at the closing numbers: a triple digit loss for the dow, and red arrows across the board for the US major indexes. But in Europe, although the markets closed off their session highs on concerns about the Italian election, they still managed modest gains.

S&P worst day since November

Monday, Feb 25, 2013 - 01:51

Top News »

Investing 201 »

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Money Clip »

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)