Stocks down, gold has biggest sell off in 30 years $XAGUSD
- Published: 16 April 2013
- News that China’s economy grew at a slower pace than predicted lead stocks lower as the S&P500 Index had its biggest fall of the year.
- The Standard & Poor’s 500 Index fell 2.3% to close the session at 1552.36. Stocks extended losses as explosions rocked the finish line area of the Boston Marathon, while almost the entire decline came before the incident.
- The Chicago Board Options Exchange Volatility Index, which measures the cost of using options as insurance against declines in the S&P 500, soared 43% for the biggest increase since August 2011, to 17.27.
- DOW -1.79% S&P500 -2.30% and NASDAQ -2.38%
- The Canadian dollar (CAD) has had its biggest drop in more than a year relative to the US dollar as gold lead commodities down. The currency weakened 1.27% to $1.0237 per US dollar.
- Gold for immediate delivery tumbled the most since 1980 to currently be trading at $1351.54 an ounce. Silver followed the trend as silver futures for May delivery plunged 11% to $22.76 an ounce.
