Plummeting more than 500 points today is now down more than 10 from its recent high. And its not alone. The tech heavy nasdaq and the small cap russell 2000 index have also fallen that same amount. The reasons for the selling, which weve been seeing all week, boil down to three things, china, the Federal Reserve and oil. But today the losses intensified. By the close the blue chip dow index tumbled 530 points to 16,459 on very heavy volume. Nasdaq shed 171 points or 3. 5 . And the s p 500 lost 64. For the week all three major indices were off more than 5 with the nasdaq losing the most. According to s p issues within the s p 500 index lost more than 1 trillion in market value this week. And as stocks fell, so did bond yields. The tenyear now hovering just above 2 . Bob pisani takes a look at the mood on the street and what investors may be in for next week. Reporter what a day and what a week. The s p 500 fell more than 5 , this is the worst week since september 2011. There was no imme
Plummeting more than 500 points today is now down more than 10 from its recent high. And its not alone. The tech heavy nasdaq and the small cap russell 2000 index have also fallen that same amount. The reasons for the selling, which weve been seeing all week, boil down to three things, china, the Federal Reserve and oil. But today the losses intensified. By the close the blue chip dow index tumbled 530 points to 16,459 on very heavy volume. Nasdaq shed 171 points or 3. 5 . And the s p 500 lost 64. For the week all three major indices were off more than 5 with the nasdaq losing the most. According to s p issues within the s p 500 index lost more than 1 trillion in market value this week. And as stocks fell, so did bond yields. The tenyear now hovering just above 2 . Bob pisani takes a look at the mood on the street and what investors may be in for next week. Reporter what a day and what a week. The s p 500 fell more than 5 , this is the worst week since september 2011. There was no imme
Plummeting more than 500 points today is now down more than 10 from its recent high. And its not alone. The tech heavy nasdaq and the small cap russell 2000 index have also fallen that same amount. The reasons for the selling, which weve been seeing all week, boil down to three things, china, the Federal Reserve and oil. But today the losses intensified. By the close the blue chip dow index tumbled 530 points to 16,459 on very heavy volume. Nasdaq shed 171 points or 3. 5 . And the s p 500 lost 64. For the week all three major indices were off more than 5 with the nasdaq losing the most. According to s p issues within the s p 500 index lost more than 1 trillion in market value this week. And as stocks fell, so did bond yields. The tenyear now hovering just above 2 . Bob pisani takes a look at the mood on the street and what investors may be in for next week. Reporter what a day and what a week. The s p 500 fell more than 5 , this is the worst week since september 2011. There was no imme
Captioning sponsored by wpbt this is n. B. R. Tom good evening. Im tom hudson. The sequester is here and the federal Government Spending cuts will soon be enacted. Susie im susie gharib. Good evening, everyone. Well look at what sequester means for the u. S. Economy, jobs and the markets and how long it may last. Tom one bright spot for the economy auto sales. February was another strong month of sales. Susie that and more tonight on n. B. R. Tom before midnight tonight, the sequester takes effect. Those automatic spending cuts will trigger federal government furloughs, cuts in government contracts and cut backs in federal services. Congressional leaders met with the president this morning to talk about the situation, but no one expected a break through and no one was disappointed. Our Washington Bureau chief darren gersh tonight on what happened and what comes next. Reporter by now, you know how this story goes. After the lastminute meeting at the white house, the speaker emerges grim
And maybe that will start to resonate out there with the American Public and maybe then well be able to move forward with some sort of more reasonable fiscal path to the future. Reporter by easter, hoagland expects the sequester pain will probably be bad enough to force some sort of compromise, if not how bad is it going to be . What im hearing from a lot of people is the feeling this whole sequester thing is way overblown, is it . Okay, play the washington number game with me for a minute. You heard the 2 number. Oh, its only 2 of federal spending over the next 10 years. Its no big deal. But theres another washington number which is because of the way the sequester is structured, its 10 to 13 in some programs this year. And thats going to cause some pain. Susie all right, well, talk us through this a little bit. I mean, you have said that the automatic spending cuts are going to be gradual. They officially kick in at midnight tonight. So talk us through what happens after midnight. Re