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.Page 2 of 4 | Prev Page | Next Page