i m bob pisani at the new york stock exchange. as bob just mentioned, the price of gold plunged today, recording its second worst loss ever and closing below $1400 an ounce for the time in more than two years. today was the first time ever that the dow and price of spot gold both recorded triple digit losses. why is selloff and what may be next for the precious metal? jackie deangelis has our report. another massive selloff in the gold market today, but what s fuelling the fur rouse rotation? several factors are at play including the continued strength in the equity market. gold had lost its luster, but gold is also an inflation hedge and as long as the fed continues with its stimulus program, investors believe inflation is likely to remain in check. people thought the price of gold was a good hedge against stock market moves and forgot that the price of gold really is an inflationary hedge and then you buy gold to preserve purchasing power. while we re not seeing the s
i m bob pisani at the new york stock exchange. as bob just mentioned, the price of gold plunged today, recording its second worst loss ever and closing below $1400 an ounce for the time in more than two years. today was the first time ever that the dow and price of spot gold both recorded triple digit losses. why is selloff and what may be next for the precious metal? jackie deangelis has our report. another massive selloff in the gold market today, but what s fuelling the fur rouse rotation? several factors are at play including the continued strength in the equity market. gold had lost its luster, but gold is also an inflation hedge and as long as the fed continues with its stimulus program, investors believe inflation is likely to remain in check. people thought the price of gold was a good hedge against stock market moves and forgot that the price of gold really is an inflationary hedge and then you buy gold to preserve purchasing power. while we re not seeing the s
losing luster l gold prices see their buggest one-day drop since 1980. and adding to the concern on wall street, a tragedy today in boston. this is nightly business report for monday, april 15th. good evening, everyone. pleased to have you here, bill, but what a tough day in the markets on many levels. a dramatic reversal of fortune on wall street, stocks falling with all 30 dow components in the red. commodity prices also hit hard following a new u report with weaker than expected growth in china and manufacturinging in new york state. crude oil, gold, silver, you name it, it was sharply lower on that day, dragging down share of energy, mining, transports, housing, other stocks as well and adding to the jitters on wall street, two explosions at the finish line of today s boston marathon, which killed at least two and injured many more. the dow closed near its lows of the session with volatility turning sharply higher. finished at 14,599. the nasdaq hit even harder. d
and adding to the jitters on wall street, two explosions at the finish line of today s boston marathon, which killed at least two and injured many more. the dow closed near its lows of the session with volatility turning sharply higher. finished at 14,599. the nasdaq hit even harder. down 78 points. the s&p down by 36. both falling by more than 2%. bob pisani has more from the floor of the new york stock exchange. it was an ugly day for stocks. down on concern about slower global growth. but an ugly day for the markets got uglier just before 3:00 eastern time when word come of two explosions at the boston marathon. the dow, already down 165, quickly lost another 50 points and closed down 1.9%, the worst one-day drop since november of last year. the vicks or volatility index, also known as the fear index, also jumped and ended the day up over 40%. the day didn t start out much better. gold and other commodities dropped big at the open. gold in particular, down 10%. its worst
space reaching 833 miles per hour. felix baumgartner blazes past the speed of sound and into the history books. e-refund. e-book readers rejoice. a refund check might be in the mail. and yankee pain. first a-rod. then jeter. now empty seats? it s bad when you can t sell out a playoff game. a playoff game. newsroom starts now. captions by vitac www.vitac.com good morning. thank you so much for being with us. i m carol costello. we start with round two. the big presidential debate. you guessed it. you will not see mitt romney or the president on the campaign trail today. because the clock is ticking. romney in massachusetts prepping for the debate. obama in virginia. it is their last full day to get ready for the big night tomorrow night. a night some say could make or break this year s election. well, the president did take time off. a half hour break this weekend to deliver pizzas to his local campaign field office. but for the most part, he s been holed up and st