Stocks Plunge as Market Enters ‘Correction’ Territory
- 6 years ago
Stocks Plunge as Market Enters ‘Correction’ Territory
Earlier Thursday, the Bank of England said as much, strengthening its forecasts for economic growth and stating
that it may have to raise interest rates “somewhat earlier and to a somewhat greater extent than we thought in November.”
That statement sent up interest rates — or yields — on British government bonds, known as gilts.
In the face of broad global growth, some think the central banks will raise interest rates faster than previously
expected, eroding a crucial source of confidence that the stock market climb would continue.
Major stock indexes suffered a steep drop in late trading on Thursday, the second-straight day that stocks dived shortly before the markets closed.
Standard & Poor’s 500-stock index
Scale is logarithmic to show
comparable percentage changes
Scale is logarithmic to
The current bull market is up almost 300 percent since March 2009.
Earlier Thursday, the Bank of England said as much, strengthening its forecasts for economic growth and stating
that it may have to raise interest rates “somewhat earlier and to a somewhat greater extent than we thought in November.”
That statement sent up interest rates — or yields — on British government bonds, known as gilts.
In the face of broad global growth, some think the central banks will raise interest rates faster than previously
expected, eroding a crucial source of confidence that the stock market climb would continue.
Major stock indexes suffered a steep drop in late trading on Thursday, the second-straight day that stocks dived shortly before the markets closed.
Standard & Poor’s 500-stock index
Scale is logarithmic to show
comparable percentage changes
Scale is logarithmic to
The current bull market is up almost 300 percent since March 2009.