Disappointing Spanish Bond Sales Send Global Markets Down (YHOO, GS)
Federal Reserve inaction and disappointing results from Spain brought major indices down today. The Spanish bond auction sold only 2.589 billion euros worth of bonds, which was on the very low end of what was expected. In corporate news, Yahoo (YHOO) will be laying off 2,000 people, yet another sign of the company's struggles to keep up with rivals Google (GOOG), Facebook, and AOL (AOL). Goldman Sachs (GS) will have one of its private equity funds exit its stake in Village Voice Media at a loss.
Word on the Street
- Stocks were down today as part of a more global selloff.
- Businesses added more than 200,000 jobs in March.
- Markets miscalculated the probability of more quantitative easing.
- Italy's government passed a series of labor reforms.
- Yahoo (YHOO) announced a round of layoffs.
- Goldman Sachs (GS) will sell its stake in Village Voice Media at a loss.
Published on Apr 4, 2012By InvestorGuide Staff