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

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

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Wednesday, 9 October 2013

Stocks tumble 1% to end at lows as DC worries linger, Dow drops nearly 160; Vix above 20

2013 Big Bear coming on 17 Oct ???

By: | CNBC.com Stock Market Writer
                

Stocks finished sharply lower for a second session Tuesday, with major averages hitting one-month lows, as investors digested comments from President Barack Obama on the ongoing political impasse in Washington.

In a press conference, President Obama said he has yet to see serious proposals from the Republicans that would allow both sides to resolve their core differences.

"So my suggestion to the Speaker has been and will continue to be: 'Let's stop the excuses, let's take a vote in the House, and let's end this shutdown right now'...There are enough reasonable Democrats and Republicans in the house who are willing to vote 'yes' on the budget that the Senate had already passed."


The Dow Jones Industrial Average dropped 159.71 points, or 1.07 percent, to close at 14,776.53, dragged by Visa and IBM. The Dow has tumbled nearly 6 percent since hitting its record high of 15,709.58 on Sept. 18.

The S&P 500 declined 20.67 points, or 1.23 percent, to end at 1,655.45. And the Nasdaq tumbled 75.54 points, or 2 percent, to finish at 3,694.83.

The Dow and S&P 500 have fallen for the 11th time in the last 14 trading sessions.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, jumped above 20. The index has surged nearly 23 percent in October alone


 

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