CLOSING BELL

Dow 10897.52  -72.47, Nasdaq 2431.16  -5.65, S&P 1182.45  -6.99 

The selling intensified today after it was learned that consumer credit in February fell by -$11.5 billion, but closed off session lows. Economist had expected it to fall by just -$0.7 billion. Consumer credit for the prior month was revised upward to a +$10.6 billion increase from a +$5.0 billion increase.


A strong dollar also hampered buying. The Dollar Index climbed to a gain of +0.4% before it pulled back to settle with a gain of +0.2%. Most of the dollar's strength can from the euro, which weakened on news that Eurozone economic activity stagnated in the fourth quarter.


Gold prices climbed +1.5% to $1137 per ounce, while silver prices settled +1.5% higher at $18.20 per ounce.  SPDR Gold Shares (GLD) 112.49 +1.46, 1.31%

All 10 major sectors fell, but losses were worst among telecom stocks which fell - 2.3%.

Advancing Sectors: None Declining Sectors: Telecom -2.3%, Energy -1.0%, Utilities -0.9%, Materials -0.7%, Industrials -0.6%, Financials -0.5%, Consumer Discretionary -0.5%, Consumer Staples -0.5%, Health Care -0.4%, Tech -0.2%