With a dismal German bond auction, a less than stellar manufacturing data from China and a slight uptick in first time unemployment claims, US stock markets are in the red.
With the continuing debt crisis in Europe that is affecting the global economic climate, Wall Street has been on a roller coaster ride. US banks have been hit the heaviest with the problems.
Reports on China's manufacturing are showing that the second largest economy in the world is contracting. Additionally, reports on European countries are showing that they are contracting as well.
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