Issue link: https://www.epageflip.net/i/61534
8A Daily News– Wednesday, April 11, 2012 NEW YORK (AP) — The stock market suffered its worst loss of the year Tuesday because of uncer- tainty about coming corpo- rate earnings reports and concerns that the borrowing costs of Spain are creeping Worst loss for Dow this year as stocks slump again Wall Street close to a crisis level. The decline extended the longest and deepest slump of the year for Wall Street to five days. More than half the first-quarter gain of the Dow Jones industrial average has been wiped out, and more than a third for the Standard & Poor's 500. The Dow fell 213.66 points, its third triple-digit loss in four days. It closed at 12,715.93, its lowest since Feb. 2. "Honey, when we get back home, let's look into choosing a Realtor to find us some land with a house on it." Treasury prices rose as investors shifted money into lower-risk investments. The yield on the benchmark 10-year Treasury note fell for the fifth straight day and dropped below 2 percent The dollar and U.S. for the first time in a month. After the market closed, Alcoa reported much better quarterly earnings than Wall Street expected, pro- viding hope that the losing streak might end. Alcoa is the first of the 30 stocks in the Dow to report results. ''Hopefully this would change the tone for the mar- ket for the next couple of days, but a lot can happen overseas overnight. That's the big unknown,'' Colleen Supran, a principal at the investment adviser Bingham, Osborn & Scar- borough in San Francisco. said Alcoa, which sells alu- minum and is watched as a barometer of the global economy, reported a quar- terly profit of 9 cents per share. Analysts were expecting a loss of 4 cents. After nine consecutive quarters of earnings growth, analysts think earn- ings will be flat this time. Those predictions came before Alcoa's impressive results, however. While Wall Street was still sleeping, European markets sold off. The main stock indexes in Spain and France closed down about 3 percent, the equivalent of a 400-point drop in the Dow. The yield on 10-year Spanish bonds rose to almost 6 percent. Seven 2012 Thurs., April 12th COWBOY COFFEE 7:45 a.m. Thursday, April 12 Green Barn Steakhouse, 5 Chestnut Ave. The traditional kickoff to the Red Bluff Round-Up Come meet the folks who make the Round-Up possible, some of the competitors and organizers representing events leading up to Rodeo. Special presentations and surprises! ...And coming up Sat, April 14th SOROPTOMIST 11TH ROBERT DOUGLAS Sacramento River Discovery Center - 7:30am Annual SPRING RUN To all who participated in Ride For Life. Along with awareness comes a CURE facebook.com/redbluffgoldexchange T-F 10am-5:30 pm Sat. 10 am-4 pm 423 Walnut St., Red Bluff • 528-8000 Gold Exchange Friday Night Dinner April 13th CONSTRUCTION Cell: 530-510-0831 ST Enchanted visitors can become our new neighbors. You know some who've done it. FREE TO PUBLIC Seminar Sunday, April 15 2-4 p.m. Survival Seventh Day Adventist Church church gymnasium. 720 S. Jackson St. Red Bluff Do you know what items to take with you if you need to evacuate quickly in an emergency? Do you have a First Aid kit on hand that would be adequate to treat a variety of medical emergencies ? Everyone should be storing up extra food to have in an emergency situation. Do you know how to package that food to preserve it for 20 years? We will demonstrate how. Learn what you need to have on hand to help your family survive a disaster. How about demonstrations on how to make your own laundry soap and house hold products, for just pennies? As prices go up- we are all looking for ways to save money. As disasters, economic collapse, and threats of shortages loom, you can be prepared!! 60%off Retail While supplies last THIS IS THE SALE YOU'VE BEEN WAITING FOR! Savings up to 859 Washington St. Red Bluff rdc716@yahoo.com Open to Public. Everyone Welcome April 12th *Reservations required by Red Bluff Elks Rack of Lamb Entree, Soup, Salad Bar, Veggie, Potato, Leg of Lamb includes choice of 355 Gilmore Road, Red Bluff • 527-3421 $17.00 Dessert, Coffee & Iced Tea FINAL DAYS! EVERYTHING MUST GO for rack of lamb only. or A BIG The 7 percent level forced Greece, the last focal point of the European debt crisis, to seek rescue loans. But Spain is widely considered too big to bail out: It makes up about 11 percent of the economic output of the countries that use the euro currency. Greece makes up about 2 percent. ''They've managed to put a Band-Aid on the debt crisis, but there's really no solution,'' Supran said. ''And Spain is a much big- ger problem than Greece.'' percent is generally consid- ered the level at which gov- ernments can no longer afford to raise money on the international bond mar- kets. 632 MAIN ST., RED BLUFF • (530) 527-5837 Hours: Monday thru Friday 9 am - 5:30 pm • Saturday 9 am - 5 pm • Closed Sunday MATTRESS NORTH VALLEY 91