Wednesday raised fresh worries about the European debt crisis as the Dow Jones Industrial Average dropped 125 points. Mark Lasseigne has Wednesday's Acadiana Business Index.


  • Spain sold fewer bonds than it planned, and at yields that were well above previous auctions.  Also weighing on sentiment was a reading of euro-zone business activity in March, which confirmed contraction, as well as a decline in euro-zone retail sales in February.
In corporate news,
  • Walgreen sales fell more than expected in March--marking a third straight month of declines.  The drug store chain's exit from its contract with Express Scripts continued to hurt sales in its pharmacy section. WAG down 1.6%
  • And General Electric declined 1.1% after Moody's Investors Service lowered its credit rating on the blue-chip conglomerate.


  • Light sweet crude settled at $101.56 a barrel.
  • And, gold plunged to a 12-week low, settled at $1,610 an ounce.