{"id":70621,"date":"2013-06-12T14:00:55","date_gmt":"2013-06-12T11:00:55","guid":{"rendered":"http:\/\/www.turkishnews.com\/en\/content\/?p=70621"},"modified":"2016-12-28T16:03:48","modified_gmt":"2016-12-28T13:03:48","slug":"u-s-stocks-dive-as-volatility-returns","status":"publish","type":"post","link":"https:\/\/www.turkishnews.com\/en\/content\/2013\/06\/12\/u-s-stocks-dive-as-volatility-returns\/","title":{"rendered":"U.S. stocks dive as volatility returns"},"content":{"rendered":"
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June 11, 2013, 4:42 p.m. EDT<\/p>\n

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By Kate Gibson, MarketWatch<\/p>\n

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NEW YORK (MarketWatch) \u2014 U.S. stocks declined sharply Tuesday after the Bank of Japan opted to hold its monetary policy steady, raising concerns that central banks will not provide additional economic stimulus.<\/p>\n

The U.S. Federal Open Market Committee and Fed Chairman Ben Bernanke \u201chave introduced volatility into the market for the first time this year, and part of it has to do with when quantitative easing will start to taper, and that has caused a cascade of opinions as to when that will be and what that should mean for stocks,\u201d said Art Hogan, market strategist at Lazard Capital Markets.<\/p>\n

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Click to Play<\/span> \"\" <\/div>\n

Central bank inaction rattles markets<\/h3>\n

Paul Vigna and Matthew Walter discuss the latest on markets.<\/p>\n<\/div>\n

Investors have been watching U.S. economic data closely for any clues as to when the Federal Reserve may begin to scale back its $85 billion in monthly bond purchases.<\/p>\n

\u201cIt does feel like in the last couple of weeks, news has been affecting all markets, not just regional,\u201d said Richard Slinn, an investment specialist at J.P. Morgan Private Bank in San Francisco.<\/p>\n

\u201cAs [10-year Treasury] yields (ICAPSD:10_YEAR) <\/span> \u00a0rise and as that volatility increases, we\u2019ve been rotating,\u201d Slinn says of investors swapping into varying asset classes.<\/p>\n

On Tuesday, the 10-year Treasury yield <\/span>traded at 2.183%.<\/p>\n

Along with Asian and European stocks, the dollar fell sharply against the Japanese yen (ICAP:USDJPY) <\/span> \u00a0after the Bank of Japan decided to stay put on its policies, dashing some hopes that the central bank would extend the duration on its ultra-low interest rates to banks.<\/p>\n

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Boring stocks, exciting returns<\/h3>\n

In the stock market, boring is often beautiful. Mark Hulbert joins MoneyBeat to discuss why volatility is overhyped. Photo: AP.<\/p>\n<\/div>\n

Extending losses into a second session, the Dow Jones Industrial Average (DJI:DJIA) <\/span> \u00a0fell as much as 152 points before briefly turning positive, then finished with a 116.57-point, or 0.8%, loss at 15,122.02 with American Express Co. (NYSE:AXP) <\/span> \u00a0pacing declines that included all but three of its 30 components.<\/p>\n

The S&P 500 index (SNC:SPX) <\/span> \u00a0dropped 16.68 points, or 1%, to 1,626.13, with the financial sector hardest hit among its 10 major industries.<\/p>\n

The Nasdaq Composite (NASDAQ:COMP) <\/span> \u00a0slid 36.82 points, or 1.1%, to 3,436.95.<\/p>\n

For every stock rising, half a dozen fell on the New York Stock Exchange, where almost 689 million shares traded.<\/p>\n

Composite volume surpassed 3.3 billion.<\/p>\n

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\u2022 Need to Know: Crucial gut checks before the U.S. markets open<\/div>\n
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Gold futures (CNS:GCQ3) <\/span> \u00a0shed $9 to $1,377 an ounce and crude (NMN:CLN3) <\/span> \u00a0fell 39 cents to $95.38<\/span> a barrel on the New York Mercantile Exchange.<\/p>\n

Inventories at U.S. businesses climbed 0.2% in April to $504.8 billion, the Commerce Department reported Tuesday. Separately, the Labor Department said job openings at U.S. workplaces fell to 3.76 million in April from 3.88 million in March.<\/p>\n

Wall Street stocks finished Monday\u2019s session little changed after Standard & Poor\u2019s revised its U.S. credit-rating outlook to stable from negative. On Monday, the Dow finished down 9.53 points, or 0.06%, to 15,238.59, and the S&P 500 dipped 0.57 point to 1,642.81.<\/p>\n

In Tuesday trading, shares of Dole Food Co. (NYSE:DOLE) <\/span> \u00a0jumped 22% after David H. Murdock, the company\u2019s chairman and CEO, made a bid for the rest of Dole. Murdock controls almost 40% of Dole Food, and the $12-per-share cash offer represents an 18% premium to Dole Food\u2019s closing price on Monday of $10.20 per share.<\/p>\n

Shares of Lululemon Athletica Inc. (NASDAQ:LULU) <\/span> \u00a0tumbled 18% a day after the yoga-clothing retailer announced quarterly results and said its Chief Executive Christine Day will step down.<\/p>\n

Shares of Sprint Nextel Corp. (NYSE:S) <\/span> rose 2.4% after SoftBank Corp. said it would raise its offer for Sprint to $21.6 billion from $20.1 billion.<\/p>\n

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June 11, 2013, 4:42 p.m. EDT By Kate Gibson, MarketWatch NEW YORK (MarketWatch) \u2014 U.S. stocks declined sharply Tuesday after the Bank of Japan opted to hold its monetary policy steady, raising concerns that central banks will not provide additional economic stimulus. The U.S. Federal Open Market Committee and Fed Chairman Ben Bernanke \u201chave introduced […]<\/p>\n","protected":false},"author":83,"featured_media":70625,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[846],"tags":[],"class_list":["post-70621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/70621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/users\/83"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/comments?post=70621"}],"version-history":[{"count":0,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/70621\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media\/70625"}],"wp:attachment":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media?parent=70621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/categories?post=70621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/tags?post=70621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}