U.S. stocks fell Thursday, led by the materials and financial sectors. The CBOE’s Vix, “fear factor,” index rose 6.2% to 24.95, its highest close in more than two weeks. Gold prices dropped below $1000 to $997.50, its lowest settlement price since September 10 and its sharpest drop since July 8. Crude prices are down 4.5% to an 8-week low of $65.89, reflecting the week’s 2.8 million inventory increase. Yesterday was also the busiest day for initial public offerings in the past 18 months.
G-20 leaders have pledged to maintain emergency support measures until a sustainable recovery is assured as they are turning their attention from crisis management to overhauling the rules governing financial markets. A statement will be issued today at 4 PM EST at the conclusion of the meeting.
