US Stocks Take Their Biggest Dive In Six Weeks
Renewed concerns surrounding central bank policies, the general lack of growth and a surging yen have sent US stocks tumbling to their lowest point in six weeks.
Financial companies led the collapse, helping to push the S&P 500 down 1.2% while the Dow Jones Industrial Average sank 232 points, Bloomberg reports.
Yields on 10-year Treasury notes fell to their lowest levels since Feb. 11 as investors flock to haven assets, like gold, which rose after the Fed’s meeting minutes confirmed the US isn’t in a rush to raise interest rates.
It seems a general element of anxiety has returned to financial markets this week, especially as the Fed minutes highlight officials’ concerns over the global economic outlook. [Bloomberg]