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Wednesday, 12 June 2013

Stocks End Down 1%, Dow Drops 100 in Choppy Session

By: | Writer

Stocks finished sharply lower in volatile trading Tuesday after briefly wiping out most of their losses, with all key S&P sectors closing in the red, as the Bank of Japan's latest monetary policy decision disappointed investors.

The Dow Jones Industrial Average dropped 116.57 points, or 0.76 percent, to finish at 15,122.02, dragged by American Express and Merck. The blue-chip index swung in a wide range, falling more than 150 points near the open, recovering all of its losses in midday and dropping back near lows in the final hour to close down by more than 100 points.

The S&P 500 slumped 16.68 points, or 1.02 percent, to end at 1,626.13. And the Nasdaq declined 36.82 points, or 1.06 percent, to close at 3,436.95.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, spiked above 17.


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