U.S. stocks traded sharply lower after disappointing U.S. data compounded the market’s worries about trade in China, European sovereign debt and unrest in the Middle East and North Africa.
Spain moved back into the spotlight of Europe’s long-running debt crisis Thursday as Moody’s Investors Services cut the Spanish government’s debt rating.
The U.S. trade deficit widened by an unexpectedly large 15.1% in January to $46.3 billion, the largest deficit since last June. The U.S. paid more for imported oil as expected but also imported more autos, capital and consumer goods. The report suggest trade will be a drag on first-quarter growth
MarketWatch
