The Hunt for the Next 10 Bagger

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U.S. stocks fall for third straight session
10-year Treasury note yield falls; gold rises
NEW YORK (MarketWatch) — U.S. stocks declined for the third straight session on Tuesday as fears over global growth and escalating war in the Middle East sent investors scrambling for havens like U.S. Treasurys.

Equities in Europe were particularly hard hit, while the 10-year Treasury note yield fell 3 basis points to 2.53%.

Sentiment was hit by weak European data, which overshadowed better-than-expected Chinese manufacturing numbers. U.S. airstrikes in Syria on Monday evening against extremist fighters, known as the Islamic State, reminded traders of heightened geopolitical risks.

The S&P 500 SPX, -0.58% closed 11.52 points, or 0.6%, lower at 1,982.77. The Dow Jones Industrial Average DJIA, -0.68% shed 116.68 points, or 0.7%, to 17,056.00. The Nasdaq Composite COMP, -0.42% dropped 19 points, or 0.4%, to 4,508.69.

Chris Gaffney, senior market strategist at EverBank Wealth Management, said mild weakness in stocks is not surprising after weak data from overseas, but remains optimistic in the longer term

“The environment for stocks remains favorable, as the Fed continues to stay accommodative. Earnings continue to increase and there is lack of alternatives. We expect stocks to finish the year higher,” said Gaffney.

“However, we believe the era of rising tides when all stocks were lifted is over and stock selection is more important,” he added. http://www.marketwatch.com/story/us-stocks-futures-dip-on-mixed-bag-of-global-data-2014-09-23