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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Value Investing
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Friday, 21 June 2013

Stocks Nosedive 2%, Dow Ends Down 350 on Fed Taper Talk; Vix Tops 20 for First Time in 2013

By: | CNBC.com Writer
                

Stocks took a sharp nosedive across the board Thursday, with the Dow and the S&P 500 posting their worst day of 2013, after Federal Reserve Chairman Ben Bernanke hinted the central bank may scale back its asset purchases later this year

With the declines from the last two sessions, the Dow and S&P 500 wiped out all of their gains from May and June.

The Dow Jones Industrial Average plummeted 353.87 points, or 2.34 percent, to end at 14,758.32, with all 30 components in the red. The last time the blue-chip index closed down more than 300 points was last November. The Dow is down more than 5 percent since its May closing high.

The S&P 500 tanked 40.74 points, or 2.50 percent, to close at 1,588.19, crashing through a key 1,598 level that traders had been watching. And the Nasdaq tumbled 78.57 points, or 2.28 percent, to finish at 3,364.63.

All three major averages were back in negative territory for the week, and on track for their fourth-weekly decline in the last five weeks.


 

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