The market suffered its worst selloff in a month after Standard & Poor’s revised its long-term outlook on the U.S. to negative from stable and as worry about Europe’s debt troubles intensified. Tech sector joined in a broad retreat. Meanwhile, RIM was the most notable gainer a day before the launch of its PlayBook tablet computer. Apple and Qualcomm also managed to make gains. In after-hours trading Texas Instruments slumped as its quarterly earnings came in below consensus estimates. Market’s implied volatility surged more than 12%, but it's still far below 30 - the level that's considered a benchmark of investor fear.
Tuesday, April 19, 2011
Sank on slashed outlook
The market suffered its worst selloff in a month after Standard & Poor’s revised its long-term outlook on the U.S. to negative from stable and as worry about Europe’s debt troubles intensified. Tech sector joined in a broad retreat. Meanwhile, RIM was the most notable gainer a day before the launch of its PlayBook tablet computer. Apple and Qualcomm also managed to make gains. In after-hours trading Texas Instruments slumped as its quarterly earnings came in below consensus estimates. Market’s implied volatility surged more than 12%, but it's still far below 30 - the level that's considered a benchmark of investor fear.
