broader market fell amid concerns that negotiations over Greek debt were falling apart and the U.S. economy is stumbling. "These types of markets are priced for perfection, which also means they are primed for disappointment," says Walter Zimmerman, senior technical analyst at United-ICAP in Jersey City, N.J. Zimmerman points to metrics such as leading economic indicators from the Organization for Economic and Community Development showing readings indicating trouble head. "The big risk to the U.S. economy really is not earnings but the situation in Europe," he says. "Current earnings are looking at the rearview mirror, at an economic situation that no longer exists. With Europe sinking back into recession, present earnings are highly unlikely to be indicative of future results."