Stocks fell sharply on worries about Europe's debt crisis, specifically the Spanish banking system. Bond yields in Spain and Italy surged to 6.6% and polls out of Greece added to the uncertainty over whether it would remain in the euro zone. Tech stocks were mostly in the red, with Facebook sliding 2.3%. Research in Motion tumbled 7.8% on news it hired JPMorgan and RBC Capital to review its strategic options, which is generally a signal it is putting itself up for sale, the co. also warned it now expects an operating loss for its fiscal first quarter, which ends on June 2. Implied volatility surged above the 22.5 level on huge trading volumes.
