The Dow closed down -102.09 (-0.78%)at12,927.17.
The S&P 500, Nasdaq and Russell 2000 were all down today.
Wal-Mart (WMT) dragged down the Dow after it was hit by allegations that top executives in its Mexican division attempted to conceal a widespread bribery scheme. Wal-Marts shares closed down nearly 5% here in the U.S. and shares of its publicly traded Mexico unit dropped nearly 12%. The company says it is investigating the allegations.
Apple Inc. (AAPL) shares were also down again today. They report earnings tomorrow after the close.
French President Sarkozy, one of the architects of the European agreement to avert sovereign debt default, lost the first round of elections and will face Hollande in a May 6 runoff.
Asian markets ended lower and European stocks also ended sharply lower.
Facebook announced that it would spend $550 million to buy part of Microsoft’s (MSFT) patent portfolio that it acquired from AOL (AOL) two weeks ago for $1 billion.
Oil for June delivery dropped 77 cents to $103.11 a barrel.
The dollar gained strength against the euro and British pound, but fell against the Japanese yen.
Gold futures for June delivery fell $10.20 to $1,632.60 an ounce.
The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down slightly to 1.93%.
Tomorrow before the open, notable stocks expected to report earnings include MMM, APD, AKS, ALXN, AXE, ARMH, ASH, ASTE, T, BHI, BYD, CPLA, CSL, CE, CLS, CNC, CRDN, CIT, COH, DLPH, FDML, FCF, FMER, HSII, HSY, ICLR, IIVI, ITW, IMN, JNS, KSU, LCAV, LII, LXK, LRY, LECO, MHP, NVS, OSIS, PCAR, PH, PEI, PNR, PVTB, RSH, RYN, RF, RAI, R, SIAL, SBNY, SNV, TWIN, X, UMBF, UTX, WAB, WAT, WFT, and WU.
New High of the Day – Under Armour (UA).