Fed exit fears rattle Wall Street.
Investors around the world continued to react to Federal Reserve chairman Ben Bernanke's comments about a potential exit strategy later this year.
The Dow Jones industrial average tumbled more than 200 points, or 1.4%, early Thursday. (Track the Dow 30)
The S&P 500 sank 1.3% and the Nasdaq fell 1.2%.
"We have the Fed show weighing heavily on the markets," said Peter Cardillo, chief market economist for Rockwell Global Capital.
Bond yields continued to spike Thursday, with the 10-year Treasury yield rising as high as 2.46%. That's its highest level since August 2011. At the same time, gold prices plunged and the dollar rallied against the euro and the yen.
The CBOE Market Volatility Index (VIX) spiked more than 10% and CNNMoney's Fear & Green Index slid back into extreme greed.
World stock markets were also deeply in the red. <snip>
Cool. His foreign policy has been magnificent. Exited from Iraq, Bin Laden is dead, Gaddafi overthrown.Red wrote:It was pretty transparent from the beginning what was going on and why the stock market kept going up while the jobs, salaries, and the overall economy was not very good. Useful idiots used to exalt Obama's economic policies. What policies? Print trillions of dollars and buy bonds to buy VOTES. The piper will be paid and it will be as ugly as his foreign policy. Prepare!
I'm prepared.....are you?