- Mark Bronzo, a fund manager at Guggenheim Investments
U.S. stocks declined after data showed that manufacturing contracted in the euro zone.
The Standard & Poor's 500 plunged by 0.84%, or 11.59 points, to 1,366.94. The Dow Jones Industrial Average lost 0.78%, or 102.09 points, to 12,927.17. The Nasdaq Composite Index tumbled 1.00%, or 30.00 points, to 2,970.45.
"There's enough out there that can justify taking the market down," said Mark Bronzo, a fund manager at Guggenheim Investments in Irvington, New York.
"There's more work to be done in Europe, yet there's political and social pressure not to do more. The economic news was disappointing. In addition, we're digesting a big advance in the market."
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