Shares on Wall Street quickly retreated Wednesday morning in the face of Fed’s decision to buy government debt and more economic news that pointed to a slowdown in the United States and China.
In the bond market, the price of 10-year Treasury notes continued to rise, as yields fell to lows not seen in more than a year. The 10-year yield was at 2.72 percent from 2.76 percent late Tuesday.
And the dollar strengthened against the euro, but hit a 15-year low against the yen, driving the Nikkei index sharply lower.
In early trading, the Dow Jones industrial average was down 224.40 points, or 2.11 percent, while the broader Standard & Poor’s 500-stock index dropped 27.11 points, or 2.4 percent. The technology heavy Nasdaq fell 64.22 points, or 2.82 percent.
Full story: Wall Street Quickly Retreats on Economic Worries – NYTimes.com