As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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Thursday, 20 June 2013

Dow Skids 200, Stocks End Down 1% as Fed Hints at Stimulus Slowdown

By: | Writer

Stocks accelerated their selloff in the final hour of trading to end near session lows Wednesday, after the Federal Reserve said it will maintain its bond-buying program, though Chairman Ben Bernanke hinted that the central bank plans to moderate purchases later this year.

The Dow Jones Industrial Average tumbled 206.04 points, or 1.35 percent, to end at 15,112.19, wiping out most of its gains from the last two sessions.

All 30 Dow components finished in the red, dragged by Verizon and AT&T. The blue-chip index logged its seventh-straight triple-digit move.

The S&P 500 slumped 22.88 points, or 1.39 percent, to finish at 1,628.93. And the Nasdaq fell 38.98 points, or 1.12 percent, to close at 3,443.20.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, finished above 16.


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