Stocks fell leading S&P end its worst week of the year as growing pressure on Europe’s debt markets revitalized concerns about the region’s financial stability. The Dow Jones industrial average and Standard & Poor’s 500-stock index dropped, falling for a third straight day.
An optimistic report on U.S. manufacturing surpassed anxiety about fragile global growth and lifted stocks to multiyear highs. The gain built on the best first quarter for stocks in more than a decade.U.S. stocks and European stocks were slightly tilted on a negative side but managed to rise after the ISM report.
After the European markets closing sharply high, the investors hope that the European Leaders will come to an agreement on a package with measures addressing the entire region’s debt crisis. They are meeting for a summit which is going to be held on the coming Wednesday. With DAX Germany rising to 3.6 percent, CAC France rising to 4.0 percent and FTSE MIB Italy rising 2.8 percent, it seems that the hope wave is catching speed.