The Past Week in the Stock Market
June 24, 2013
Market Information for this Week.....
The Past Week in the Stock Market – June 24, 2013
The Federal Reserve signaled this past week that the U.S. economy may soon be healthy enough to stand on its own after three years of being propped up by trillions of dollars of bond purchases.
However, while the trimming of the program should be viewed as a positive development, Chairman Ben Bernanke thoroughly spooked many market participants this past Wednesday by this statement that the central bank is likely to begin trimming down its asset purchases later this year, and halt the program entirely next year. The statement triggered a wave of selling on Wall Street and in bond markets, with the broad S&P 500 plummeting 3.9% over the two-day span -- pushing down year-to-date gains slightly south of 12%. Also, the Dow Industrials plunged as much as 460 points in just two days.