MIDDAY LUNCH

Dow 10033.17  -222.11, Nasdaq 2254.30  -48.73, S&P 1079.21  -23.62 

Stocks are sliding today on news that Hungary’s financial problems are sever and could lead the country to default on their debt and a worse than expected Non-farm payroll report.

Hungary announced that their economy is in a “very grave situation” and not only did the Non-farm Payroll report miss economist estimates but almost all of the 431,000 jobs created were temporary government census workers.

This has caused the Euro to fall -1.4% again today to $1.199, which is a new four-year low.

All 10 major sectors are down with losses of nearly -2% or more. Additionally on the NYSE, declining volume outnumbers advancing volume by almost 15-to-1.

Treasury prices are higher as money seeks safety going into the weekend pushing the 10 year Notes yield below 3.22%.

Bucking the trend today is ITT Educational (ITT) 99.90 +0.03, +0.03%, eBay (EBAY) 22.52 +0.34, +1.53% and United Health (UNH) 30.97 +0.51, +1.67%.