U.S. Stocks Slammed Again On European Fears

U.S. stocks are under heavy pressure today as debt concerns in Europe have raised serious questions about the global recovery. Rumors about the stability of the European Union continue to fly.

All the major U.S. averages are now negative on the year.

The Dow is down 245 to 10,200, the S&P 500 is down 29 to 1,086 and is now nearing the May 6 'Flash Crash' low of 1,065.79, and the Nasdaq is down 69 to 2,229.

In addition to the European issues, the jobs picture in the U.S. showed signs that a significant recovery is still far away. Jobless claims came in at 471,000 for the week of May 15, versus the consensus of 440,000.

Commodities are lower across the board. Crude is down 2.8 to 67, Gold is down 9 to 1184.

After recovering off multi-year lows, the Euro is 0.6% lower against the dollar today at 1.2347, but is significantly lower against the Yen - down 2.9%.

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