The market dropped dramatically in the early going but encouraging comments from the Fed helped soften blow. As investors dumped stocks and most commodities, they bid up safer assets, including Treasurys and currencies. GE fell 1.6% amid concerns about the company’s involvement in the design of reactors at the Fukushima Daiichi nuclear plant in Japan. Technology stocks were also weak. Intel fell 3.2% on downgrade. Netflix added 8% on the recent upgrade. Implied volatility resumed its rise on investor’s fears.
Wednesday, March 16, 2011
Managed to cut losses
The market dropped dramatically in the early going but encouraging comments from the Fed helped soften blow. As investors dumped stocks and most commodities, they bid up safer assets, including Treasurys and currencies. GE fell 1.6% amid concerns about the company’s involvement in the design of reactors at the Fukushima Daiichi nuclear plant in Japan. Technology stocks were also weak. Intel fell 3.2% on downgrade. Netflix added 8% on the recent upgrade. Implied volatility resumed its rise on investor’s fears.
