Stocks fell more than 2 percent in a broad selloff on Thursday, extending the previous day's sharp decline as investors continued to fret over the Federal Reserve's plan to begin winding down its stimulus program later this year.
The S&P 500 was on track for its worst daily decline since April 15, and its worst two-day decline in seven months. All 10 S&P sectors were sharply lower, with more than 90 percent of stocks traded on the New York Stock Exchange down on the day.
The index fell below its 50-day moving average, a key technical measure of the recent trend in stocks. It closed below that level on only one day this year, in mid-April, and a break below it could add to selling pressure. It was also on track for its first close under 1,600 since May 2.
http://www.reuters.com/article/2013/06/20/us-markets-stocks-idUSBRE95I0N020130620
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