After weeks of bliss, stocks took their first direct hit of 2013 with the worst losses since November. Our old friend Europe was the catalyst as the S&P 500 fell 1.15% and the NASDAQ 1.5%. Spain and Italy were the culprits again as they were in summer 2012.Spanish Premier Mariano Rajoy is facing opposition calls to resign amid contested reports about illegal payments, while Deutsche Bank AG said this year’s rally in Italian, as well as Spanish, bonds may falter as Italy’s Silvio Berlusconi narrowed the front-runner’s lead before elections this month.We shall see in the days ahead if this was just an excuse to find a reason to correct a rally which was reaching the stratosphere with little support, or the start of something more dark. Until proof surfaces otherwise, one assumes the former. Original post: STTG Market Recap February 4, 2013