Markets closed sharply lower Monday, the first trading day following a disappointing jobs report last week.
The Dow closed down -130.55 (-1.00%) at 12,929.59.
The banking sector was under pressure, with Bank of America (BAC), JPMorgan (JPM) and Citibank (C) down sharply. Investors will get an update on the health of the financial sector later this week when JPMorgan (JPM) and Wells Fargo (WFC) report quarterly earnings results Friday.
The Chinese government reported today that inflation rose at an annual rate of 3.6% in March, higher than expected.
Losers leading the charge lower were BAC (-3.25%), DIS, CAT, UTX, AXP, BA and GE (-1.49%).
The dollar rose against the euro and British pound but fell against the Japanese yen.
Oil for May delivery fell 85 cents to settle at $102.46 a barrel.
Gold futures for April delivery was up $14 to $1,642.50 an ounce.
The price on the benchmark 10-year U.S. Treasury was up, pushing the yield down to 2.03%
Tomorrow morning before the open we have SVU expected to report earnings.
Remember, AA reports earnings tomorrow after the close.
New high of the day is Visa (V).