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Showing posts with the label Wall Street at Close Report by MarketWatch; June 20

U.S. stocks extend tumble on Fed taper fears: Wall Street at Close Report by MarketWatch; June 20, 2013.

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By Polya Lesova and Victor Reklaitis , MarketWatch  NEW YORK (MarketWatch) — U.S. stocks tumbled on Thursday, with the S&P 500 suffering its worst session since November 2011, hit by fear that the Federal Reserve will scale back its bond buying later this year.  Asian and European stocks, along with gold, oil and Treasurys, also posted steep declines. Disappointing Chinese data further hit sentiment.  Fed eyes end of bond buying Paul Vigna and Steven Russolillo discuss market reaction to the Federal Reserve's rate decision, and George Stahl looks at Facebook's potential leap into video.  After dropping as much as 380 points intraday, the Dow Jones Industrial Average DJIA -2.34% ended down 353.87 points, or 2.3%, to 14,758.32, with all of its 30 components in negative territory.

Asia stocks take double hit from Fed, China: Wall Street at Close Report by MarketWatch; June 20, 2013.

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By V. Phani Kumar , MarketWatch  HONG KONG (MarketWatch) — Asian stocks tumbled Thursday as a deterioration in Chinese manufacturing activity and a further spike in Shanghai interbank lending rates applied more selling pressure after the Federal Reserve signaled it may wind down its bond purchases.  Stocks in Hong Kong and Sydney were slammed after preliminary data released by HSBC showed its China Purchasing Managers’ Index for June slipped to a nine-month low of 48.3 , staying under the 50-point level for a second straight month. A reading below 50 shows conditions worsened.  The Hang Seng Index HK:HSI -2.88%  slumped 2.9% to finish the day at a nine-month low, and the Shanghai Composite Index CN:SHCOMP -2.77% d