💥 💥 pow in 2018
NEW YORK (Reuters) – U.S. stocks saw the biggest one day fall in six years on Monday as investors rushed to take profits, after bond yields rose sharply last week, following an equities rally to record levels in January.
The Dow Jones Industrial Average fell nearly 1,600 points for its biggest intraday drop in history in points terms, or more than 6.0 percent, before ending down 1,175.21 points, or 4.6 percent for it’s biggest one day fall since Aug. 2011.
Only last month the Dow and S&P500 index had their best monthly gains in two years with stocks reaching record levels on Jan. 26, supported by the benefit of cut in U.S. corporate taxes in December, rising earnings, and healthy global economic growth.
But with the Federal Reserve seen likely to raise short term interest rates again three or four times in 2018, bond yields have…
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