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Stocks Log Worst Day in 2012, Dow Skids 200
10 Apr 2012 EDT - CNBC.com
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  • Read More: Euro Crisis Deja Vu Sends Stocks Skidding
  • Concerns over rising borrowing costs for European countries added to woes and kept investors on edge. Yields on 10-year Spanish bonds jumped to the highest level of the year, while Italian 10-year yields gained near the highest level in almost two months.

    European shares hit a 12-week low following the long Easter weekend, amid growth worries and as traders reacted to last week's weaker-than-expected U.S. jobs datafor the first time.

    And China's trade report showed the world's second largest economy may be headed for a soft landing. GDP growth is on course for its slowest year of expansion in a decade.

    “Investors are donning those safety glasses and becoming quite defensive ahead of earnings season and ahead of the [euro zone] peripheral risks that seem to be re-emerging yet again,” said Lincoln Ellis, chief investment officer at Strategic Financial Group.

    Dow component Alcoa is slated to post earnings after-the-bell, marking the unofficial start to earnings season . Google , JPMorgan and Wells Fargo are also scheduled to report throughout the week.

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