Negative guidance from Intel kicked off a new selling wave in beleaguered technology, while the February job figures turned out to be strong enough to raise some doubts about aggressive Federal Reserve ease.
Suddenly these inflation figures have a psychological impact.
The abbreviated week will bring with it a rash of economic numbers, culminating in the May job figures on Friday. The Street would like to see some signs of a slowing economic pace so as to assuage the inflation junkies on the Federal Reserve.