The sell-off comes after the government says it has started criminal and civil probes in the BP oil spill. The news offsets bullish manufacturing and construction reports. Apple sells 2 million iPads.
The economy -- jobs, auto sales, factory orders -- will command the market's attention. Europe and the effects of the oil spill will, too.
Stocks will finish May with their worst performance since at least February 2009. No Dow stock is up for the month. Energy shares have slumped with oil prices.
The bankruptcy estate for Lehman Bros. says JPMorgan illegally maneuvered to seized billions in assets.
The FBI alleges that the woman and her boyfriend tried to sell advance copies of Disney's May earnings.
An auction of 2-year Treasurys sells for 0.769%, a record low, as many investors seek safety from stock market and currency volatility.
The big question is whether the volatility is over. Reports are due on housing, personal income and durable-goods orders. Costco and Canada's big banks will report.
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The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
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The IRS is struggling to combat identify thieves who file fraudulent tax returns in the names of older residents who don't need to file.