August 10, 2011
Stocks opened sharply lower Wednesday following the previous session’s sharp rally as investors remained cautious over the prospects for the U.S. economy and the ongoing euro zone crisis.
The Dow Jones Industrial Average tumbled at the open, led by Disney and BofA, after surging over 600 points in the final hour of trading in the previous session amid a heavily volatile session.
The S&P 500 and Nasdaq also declined sharply. The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded near 40.
All 10 S&P sectors slumped, led by financials and consumer discretionary.
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