Wednesday, June 15, 2011

Dow Down 175, Stocks Fall Amid Euro Zone Fears; Vix Spikes

Stocks added to previous losses Wednesday, wiping out the previous day's gains, amid investor jitters over renewed worries over the growing euro zone debt situation and following a handful of weaker-than-expected economic news.
The Dow Jones Industrial Average plunged more than 100 points to trade below the psychologically-important 12,000 mark, after posting its biggest gain in almost two months during the previous session. Most blue-chip stocks were in the red, led by BofA. The S&P 500 and the tech-heavy Nasdaq were also lower. The CBOE Volatility Index, widely considered the best gauge of fear in the market, surged almost 10 percent to trade above 20. All key S&P sectors were in the red, led by materials, financials and techs.


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