Monday, April 30, 2012

Stocks fall on Wall Street as Spain enters recession; US consumer spending growth slows

The U.S markets fell today as Spain reported that their economy shrank 0.3%, the second straight quarter of recession.  Since that adds up to 6 months of decline, Spain is officially in recession.  The biggest worry with this is that Spain is the fourth largest country that uses the Euro, and if for some resaon Spain were to need help, the European economy may not be strong enough to bail it out due to its size.

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