Stocks Fall as ‘Triple Witching’ Spurs Volume Jump: Markets Wrap
- Big pile of options expiring on Friday amplified market swings
- Treasury 10-year bonds notched their worst week this year
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Stocks fell at the end of a jittery week as tech sold off and a pile of options expiring Friday amplified market swings.
Wall Street faced a quarterly episode ominously known as triple witching — in which derivatives contracts tied to stocks, index options and futures matured — compelling traders en masse to roll over their existing positions or to start new ones. About 19 billion shares changed hands on US exchanges. That’s roughly 60% above the three-month average volume.