YAHOO [BRIEFING.COM]: Moderate weakness mired stocks for most of the session, but a failed attempt to push into positive prompted sellers to intensify their efforts and hand the stock market its worst loss in more than one month.

A lack of positive catalysts in the early going left market participants without reason to chase stocks to new highs, which have become increasingly difficult register in recent sessions.

A stronger dollar also stymied buying. In the early going the Dollar Index climbed to a gain of 0.4% before it pulled back to settle with a gain of 0.2%. Most of the dollar's strength was owed to the euro, which weakened in the wake of news that eurozone economic activity stagnated in the fourth quarter.

Precious metals were unfazed by the dollar, though. Gold prices climbed 1.5% to $1137 per ounce, while silver prices settled 1.5% higher at $18.20 per ounce. Such strength won favor for Barrick Gold (ABX 40.70, +1.28), Goldcorp (GG 39.87, +1.59), and IAMGOLD (IAG 15.60, +0.71).

Strength among precious metals plays helped offset the weakness of Monsanto (MON 68.09, -1.45) within the materials sector, which fell 0.7%. Monsanto posted an earnings miss and confirmed a tepid forecast.

All 10 major sectors fell, but losses were worst among telecom stocks. The sector tumbled 2.3%.

Financials fell 0.5% despite early attempts to provide leadership to the broader market. The sector was sacked by a late flurry of selling that came about after stocks failed to find their way into higher ground. The S&P 500 actually flirted with a gain after a $21 billion auction of 10-year Treasuries drew a lower-than-expected yield of 3.90% and a record bid-to-cover ratio of 3.7, but the stock market's failure to overcome resistance at the neutral line set the stage for a more concerted selling effort.

Sellers intensified their efforts after it was learned that consumer credit in February fell by $11.5 billion. It was expected to contract by just $0.7 billion. Consumer credit for the prior month was revised upward to a $10.6 billion increase from a $5.0 billion increase.

Equities have seen a slight bounce off session lows reached about 15 minutes ago.

In the commodity space, gold and silver futures traded higher this session as the dollar pared its early gains stemming primarily from weakness in the euro. May silver closed 1.5% higher at $18.20 per ounce. June gold also closed 1.5% higher, it closed at $1137 per ounce. Gold stocks were especially strong this session. The Market Vectors Gold Miners ETF (GDX 48.16 +1.35) staged an impressive rally this session. Large cap gold miners Goldcorp (GG 39.82 +1.54) and Barrick Gold (ABX 40.69 +1.27) led the charge higher.

Crude oil retreated from its 18 month highs this session. It was trading lower heading into the inventory report which showed a slightly greater-than expected build. The May contract closed just below the $86 level which provided some support this session. It fell 1.1% to $85.88 per barrel.

Natural gas continued its recent volatile trade and extended the prior session losses. May natural gas closed 2.0% lower at $4.02 per MMBtu.

While a bounce up from session lows in the final hour of trade helped moderate the extent of this session's slide, it still wasn't enough to prevent the stock market's worst loss since February.

Advancing Sectors: (None)
Declining Sectors: Telecom (-2.3%), Energy (-1.0%), Utilities (-0.9%), Materials (-0.7%), Industrials (-0.6%), Financials (-0.5%), Consumer Discretionary (-0.5%), Consumer Staples (-0.5%), Health Care (-0.4%), Tech (-0.2%) DJ30 -72.47 NASDAQ -5.65 NQ100 -0.2% R2K -0.3% SP400 -0.7% SP500 -6.99 NASDAQ Adv/Vol/Dec 1230/2.87 bln/1469 NYSE Adv/Vol/Dec 1109/1.15 bln/1924