Earnings Worries Trigger Steep Selloff
October 23, 2012 by Douglas A. McIntyre
By Adam Samson / FoxBusiness
Mounting concerns about the outlook for corporate profits sent traders rushing out of risky assets across the board on Tuesday.
Every major sector was in the red, with financials, industrials and energy stocks taking the heaviest selling. The yield on the U.S. 10-year Treasury bond was down 0.047-percentage point to 1.774% as traders bid up the safe-haven asset. Meanwhile the VIX, seen as Wall Street’s fear gauge, surged 11.1%.
See what’s up and down at FoxBusiness.
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