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Stocks Slide as Dow Dips Below 15000 On Fed Taper Hopes
Wall Street fell as the Dow dropped 126.79 points to 14,995.23 and the S P 500 slid 13.61 to 1612.52 led by consumer discretionary and utilities. Netflix Best Buy and GameStop declined while Cooper Tire surged 41 percent on Apollo Tyres 2.5 billion buyout plan. Gigamon jumped 50 percent in its IPO as the Nasdaq fell 1 percent to 3400.43 amid rising yields near 2.23 percent on the 10 year note. The market faces headwinds from shrinking stimulus and Fed taper talk ahead of next weeks policy meeting.
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