Independent, Fee-Only Financial Advisor
Monday, May 16, 2011
The technology sector and consumer-discretionary sectors led stocks lower as weak economic data spurred worries of a softening economy and Europe's debt crisis weighed on investor sentiment. Investors said a New York-area manufacturing survey that was well below expectations underscored the uneven state of the economy, while a weak housing index showed continued stress in that market. Technology and consumer-discretionary shares are often among the first to be hit when consumers and businesses tighten their belts. DJIA -47.38 Nasdaq -46.16 S&P 500 -8.30.