S&P 500 Firms Lose Nearly $3 Trillion as Gold Advances
Photo: TokenPost
A broad U.S. stock selloff erased nearly $3 trillion from S&P 500 companies at Thursday’s intraday low, while lower Treasury yields and rising gold prices signaled a turn toward defensive assets. The Nasdaq Composite closed down 5.52%, the S&P 500 fell 4.36% and the Dow Jones Industrial Average lost 3.44%. The declines marked the weakest daily performance in nearly 19 months. The VIX, a gauge of expected stock-market volatility, jumped 11.57 points to about 28.2. The two-year Treasury yield dropped roughly 11 to 12 basis points to about 4.47%.
Source: TokenPost
