U.S. stocks decline sharply on Irish worries but got supported soon and bounced too

 U.S. stocks on Tuesday took their biggest single-day hit in more than three months as investors fretted about Ireland’s debt crisis and possible rate hikes in China.

“The negative investor sentiment today is really the fault of the Irish, you’ve got the unresolved issue of Ireland’s terms of access to that emergency financial stabilization fund, and the market is trying to force a conclusion,” said Jeff Kleintop, chief market strategist at LPL Financial.

“That lingering uncertainty over the fate of Ireland is certainly weighing on the euro, it’s weighing on the economic outlook for the euro-zone in total, the profit prospects for global companies and of course weighing on demand expectations for commodities,” Kleintop said.

http://www.marketwatch.com/story/us-stocks-slump-on-china-fears-eu-debt-2010-11-16?siteid=yhoof
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