Stocks fell sharply on Tuesday in the single largest decline for 2012 due to data that rekindled concerns about global growth, while a deadline loomed for private holders of Greek debt to agree to taking substantial losses.
Gold was also down around 2% in and hovering near a 6-month low.
In corporate news, Merck (MRK) forecast that first-quarter profit would be below Wall Street estimatse and said foreign currency exchange would negatively impact revenue.
Dick's Sporting Goods (DKS) forecast first-quarter profit above analyst estimates, as online sales and tight inventory management will drive growth.
Standard Motor Products (SMP) shares were sharply lower after the company reported disappointing fourth quarter results and issued first-quarter outlook that was tepid.
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