News of a slight growth in the GDP wasn’t enough to prevent investors from selling off stocks on Friday, as both the day and month of January ended down. In fact, the S&P 500 index experienced its worst decline since February 2009.

The sell-off couldn’t be attributed to a single cause, though concerns over Europe’s fiscal situation and a fall in demand for tech stocks were clearly the largest contributors. Even Apple, which announced its latest technological marvel yesterday, saw shares drop 3.63%.

Reuters reports:

For the week, the Dow lost 1.1 percent, the S&P 500 fell 1.7 percent and the Nasdaq lost 2.6 percent.

For January, the Dow slid 3.5 percent, the S&P 500 shed 3.7 percent and the Nasdaq tumbled 5.4 percent.

And while the GDP expansion news was certainly better than a continued recession, bad news still prevails. Unemployment remains in the double-digits, banks continue to be overtaken by federal regulators, and housing sales are again falling “unexpectedly”.

In fact, as Paul Krugman has already said, most of the GDP growth came from liquidation of inventory occurring at a slower rate. True demand was only about 2.2% for the fourth quarter — precisely what Goldman Sachs had predicted.

So good news remains scarce, even when it comes to the GDP.