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The major market indexes were trending in the red at mid day on Tuesday as investors digest an onslaught of issues that have weighed the market down. Alcoa was first in line to release quarterly earnings and the highly anticipated report has left investors feeling disappointed as well as concerned. The aluminum giant reported better than expected earnings but it’s revenues fell short. As rising costs continue to absorb revenues and shrink margins, investors are worried that the high price of commodities will begin to be reflected as other companies release reports. Corporate earnings are not the only problem that has surfaced today. Japanese officials have raised the threat level at the Fukushima nuclear plant. According to reports the situation has worsened over night with the plant issuing a threat level paralleling that of Chernobyl. The Treasury Department released its most recent report on the federal deficit. The report indicated that the federal deficit increased to $188.2 billion, falling just below economists anticipated forecast of $189 billion. The Commerce Department reported on the U.S. trade balance for February. The report showed that the trade deficit narrowed from $46.3 billion in January to $45.8 billion for February. At close the major market indexes continue to trend in the red. The Dow dropped 117.53 points or 0.95% to 12263.58. The Nasdaq declined by 26.72 points or 0.96% to 2744.79. The S&P 500 was down 10.30 points or 0.78% to 1314.16. The Treasuries 10- year yield decreased by 0.07 to 3.50%. Oil plunged 4.12 to $105.81 a barrel. Author: Pamela Frost
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