As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Saturday, 21 September 2013

Dow posts 185-point drop

By: | Stock Market Writer

Stocks sold off sharply Friday, with the Dow erasing all of its gains since the Fed's announcement, as uncertainty over the central bank's bond-buying program spooked Wall Street.

Volatility was amplified as Friday also marked the "quadruple witching," when stock index futures, stock index options, stock options and single stock futures all expire. This event takes place four times a year on the third Friday of March, June, September and December.

The Dow Jones Industrial Average plunged more than 180 points, dragged by Caterpillar and Microsoft. The blue-chip index set an all-time high on Wednesday and is still posted a gain for the third-straight week.

The S&P 500 and the Nasdaq also closed sharply lower.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended above 13.

For the week, the Dow rose 0.49 percent, the S&P 500 rallied 1.30 percent and the Nasdaq jumped 1.41 percent. Boeing led the weekly Dow gainers, while UnitedHealth slumped.


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