U.S. stocks extend tumble on Fed tap
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U.S. stocks extend tumble on Fed taper fears
Asian and European stocks sink, along with gold and Treasurys
NEW YORK (MarketWatch) — U.S. stocks tumbled on Thursday, with the S&P 500 suffering its worst session since November 2011, hit by fear that the Federal Reserve will scale back its bond buying later this year.
Asian and European stocks, along with gold, oil and Treasurys, also posted steep declines. Disappointing Chinese data further hit sentiment.
After dropping as much as 380 points intraday, the Dow Jones Industrial Average (DJI
JIA) ended down 353.87 points, or 2.3%, to 14,758.32, with all of its 30 components in negative territory.
It was the Dow’s largest one-day percentage decline since Nov. 7, 2012, the day after the U.S. presidential election. And it was the index’s biggest one-day point decline since Nov. 9, 2011. http://www.marketwatch.com/story/us-stocks-fa...=afterbell
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