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Cryptic Mole

6 days of selling grip Wall Street

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 Cryptic Mole    3,510

6 days of selling grip Wall Street:

Fear is making a return to Wall Street.

Just a few weeks ago the U.S. stock market was flirting with record highs. Now, stocks are in retreat due to mounting concerns over next week's Brexit vote in the U.K. and frustration with global central banks.

"Markets are showing tremors," said Michael Block, chief strategist at Rhino Trading Partners, in a note.

Just look at these four major developments:

1.) The Dow dropped as many as 169 points on Thursday morning before rebounding to turn positive. The S&P 500 is flat, meaning it's in jeopardy of suffering the first six-day losing streak since the market freakout in August.

2.) Gold, which tends to rise during times of fear, soared as much as 2% on Thursday to $1,318 an ounce, the highest since August 2014. The precious metal is now up seven days in a row and an incredible 24% this year.

3.) Bond yields, which move in opposite directions to their price, have plummeted to ridiculously low levels. That may be spooking investors. The U.S. Treasury yield dropped to 1.52% on Thursday. That would have been the lowest close since 2012, but yields have since rebounded to 1.57%.

4.) CNNMoney's Fear & Greed index briefly...

Read More: http://money.cnn.com/2016/06/16/investing/stocks-brexit-dow-jones-gold/index.html?section=money_markets&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_markets+(CNNMoney%3A+Markets)

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