Alcoa (NYSE:AA) and Caterpillar (NYSE:CAT) were the chief catalysts to driving down the dow, as it fell off the cliff to the tune of 4 percent last week, the largest drop since February.
With the exception of gold, commodities took a big hit as investors migrated to safe haven, with gold leading the way, and the U.S. dollar also getting some attention.
The sovereign debt crisis in Europe continues to hammer the markets as ongoing fears of contagion which could spread far beyond the nations with sovereign debt issues, and beyond Europe itself, as uncertainty on how it will affect the still very weak global economy has investors running for protection.
Gold prices today are close to all-time highs as a result of seeking safety.
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