Stocks closed lower for a third straight day as investors worried about the toll of Europe’s debt struggles on the global economy and unloaded gold and the euro. Italy’s borrowing costs rose to a euro-era record at a bond auction, and the euro broke 11-month lows against the dollar. The tech sector sank into the red with Groupon sliding 3.3% an nearly a dozen brokers started coverage of the stock with mostly neutral views. Meanwhile, Gartner Inc reported that semiconductor capital equipment spending is expected to total $15.7 billion in 2012, down 19.5% from the projected total of $64.2 billion in 2011and said the slowdown is expected to last through the second quarter of 2012. On the upside, Broadcom gained 0.9%, after the co. said it expects to post revenue at the high end of its guidance. After the close Novellus Systems rallied as the co. agreed to a buyout. Implied volatility inched higher on huge trading volumes.NEAREST RESISTANCE LEVELS: 57.8, 58.3, 59.0
NEAREST SUPPORT LEVELS: 53.0, 50.0
