US market down despite upbeat factory data, EU markets dip on Spain woes

US market was under pressure as banking sector slid. New factory orders in US climb to three month high at 1.3 per cent. US auto sales also zoomed up to 4 year high at 6 per cent. European markets dip as Spain spirals worry with public deficit at 79.8 per cent of GDP and high unemployment. German bank HSH Nordbank AG sues two units of Barclays Bank over the purchase of $46 million in residential mortgage-backed securities in New York Supreme Court. BSkyB Chairman James Murdoch steps down.