Monday, September 12, 2016

A Wide Rout

After a Fed board governor hinted at the possibility of a rate increase, pretty much everything on the market fell on Friday. It was the worst day for stocks since the Brexit vote. How widespread was the rout?
  • The S&P 500 dropped by 2.5 percent, and all ten sectors suffered losses.
  • The Dow Jones industrial average dropped 2.1 percent, with all 30 component stocks falling on the day.
  • On the New York Stock Exchange, only one in every 20 stocks advanced.
  • Oil prices, which had been rising, fell by nearly 4 percent.

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