Dow Sheds More Than 200 Points On Monetary Policy Concerns
Stocks fell today, after the optimism surrounding the latest batch of quarterly reports was offset by worries of the Federal Reserve and its futures monetary policy. The Dow shed more than 200 points, while the S&P 500 and Nasdaq logged more modest losses. Wall Street's "fear gauge," the Cboe Volatility Index (VIX), meanwhile, closed at its highest level since Jan. 11.
OIL, GOLD SNAP THREE-DAY WINNING STREAK
Oil prices ended a three-day winning streak today, one session after data showed U.S. crude inventories rose for a seventh-straight week. March-dated crude lost 41 cents, or 0.5%, to settle at $78.06 per barrel.
January's upcoming inflation report and hawkish remarks from central bank officials weighed on gold prices today. April-dated gold shed $12.20, or 0.7%, to settle at $1,878.50 per ounce.
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With another 1% increase by the fed the T-Bills will crash the housing mkts. The I-Buyers will dump there homes.