Stocks came off their worst levels, but still finished sharply lower Thursday in heavy-volume trading as a gloomy outlook from the Federal Reserve in addition to ongoing economic jitters fueled concerns of a recession.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, soared above 41.
All 10 S&P sectors finished firmly in the negative territory, led by materials and energy.
The Fed announced it would launch a new $400 billion program in a move to rebalance its $2.87 trillion portfolio—a version of the widely expected Operation Twist—by selling shorter-term notes and using those funds to purchase longer-dated Treasurys.
http://www.cnbc.com/id/44624491
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