Today's drop is a follow-through on more bad news. Also, the developments on Iraq and deflationary concerns in the economy remain in the background.
There's very little buying interest right now and there are concerns with the Dow and S&P 500 falling close to the January lows,
The concerns over the slowdown are little overdone, ... The economy is still growing at a good clip, though not as quickly as expected. Things are still good despite the slowdown, despite high oil prices.