Stock Markets Around the World Suffer From Heavy Selling

It could be a rough day for the stock market today after a tough day Wednesday. Asian and European markets are seeing steep sell-offs. All the major U.S. indexes were sharply lower and the S & P 500 is now below its 200 day moving average. Oil is a big part of the stock volatility as oil has dropped to fresh 6 1/2 year lows. Oil traded at its lowest level since March 2009. NetApp (NTAP) posted a loss as the company overhauled its products and underwent a restructuring. Company officials, who called this a transition year, said product revenue would pick up in the second quarter and return to its target operating margin of 8% to 20% in the second half of the year. Reports indicate the owners of 'The Weather Channel' may put it up for sale.