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Stocks turn decidedly lower at lunchtime, the Dow (DIA -0.5%) off more than 60 points after...

Stocks turn decidedly lower at lunchtime, the Dow (DIA -0.5%) off more than 60 points after opening higher by over 100. Rising intrest rates seemingly took the steam out of the rally, but the selloff in equities has the 10-year yield back to unchanged at 2.19%. The slide occurred alongside another rip higher for the yen (the new VIX), with dollar/yen falling to about its lowest level of this bear move, ¥95.19.
Comments (4)
  • bbro
    , contributor
    Comments (9319) | Send Message
     
    In the last 50 years there have been only 2 years without a 5% selloff..
    1964 and 1995....
    12 Jun 2013, 12:05 PM Reply Like
  • tom_t
    , contributor
    Comments (259) | Send Message
     
    By the end of this year, we might be wishing that the selloff was only 5%. :)
    12 Jun 2013, 12:38 PM Reply Like
  • Gosho
    , contributor
    Comments (57) | Send Message
     
    And the reason for a bigger sell-off is...?
    12 Jun 2013, 02:26 PM Reply Like
  • Carmel Epstein
    , contributor
    Comments (3) | Send Message
     
    Why isn't anyone realizing the market isn't worried about tapering? It's worse. The market has voted no confidence in the fed. The day the fed claimed they were going with this latest round of QE, the market sold off bonds. Bernanke should go talk to John Major about what happens when the market loses faith in central banker's control over an asset. (See the pound sterling and black wednesday). I'm really short LT bonds and holding lots of VIX and VXX... I don't plan on selling anytime soon. Then again I'm a risk taker.
    12 Jun 2013, 02:41 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
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