Market's 'Taper' Tantrum Extends to Fourth Day
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Stocks around the world extended their petulant selloff today, with the Standard & Poor’s 500-stock index down 1.9 percent in the first hour of trading, four business days after Ben Bernanke said the economy was improving so much the Federal Reserve will eventually wind down its stimulus policies.
Bonds also fell in the U.S. and around the world. The yield on 10-year Treasuries rose to 2.616 percent, which means prices went down; the rate is still near a record low, but has climbed more than a full percentage point since July.