S&P Suffers Worst Day in Six Months

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Wall Street was victim to a broad-based selloff on Thursday as market bears sold on global growth fears and obliterated all sense of Fed-inspired optimism fostered a day earlier. Though pulling back from session lows into the close, all major indices ended the session around 2% lower.
The Dow, down 1.95%, suffered its seventh fall in the past nine sessions. Thursday marked the third straight session where the Dow has moved more than 200 points in any direction, a reflection of extreme market volatility at play. The Chicago Board Options Exchanges' Volatility Index spiked 23.89% to 18.72, an eight-month high.
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The Russell 2000 index of small caps plunged 2.3%, its lowest level in 13 months, with traders reluctant to enter what is typically viewed as a riskier investment. The major indices erased all gains achieved in Wednesday's rally.

The S&P 500 tanked 2.06%, its worst day since April 10, and the Nasdaq was down 2.02% with losses accelerating as the afternoon session wore on.
A day earlier, Wall Street celebrated the year's biggest rally after the Federal Reserve indicated an interest rate hike could come later than expected. But stock markets are sinking Thursday because a delayed hike comes at a cost: the continued slowdown in global growth.

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