U.S. stocks sank, extending the Standard & Poor’s 500 Index’s worst two-day drop since June, amid disappointing results at JPMorgan Chase & Co. and signs hedge funds were dumping the bull market’s best performers.
U.S. stocks fell, giving the Standard & Poor’s 500 Index its worst week since 2012, amid disappointing results at JPMorgan Chase & Co. and signs hedge funds were dumping the bull market’s top performers. Treasuries rose, while oil hit a five-week high.
U.S. stocks fell, with the Nasdaq Composite Index sliding the most in two months, after large technology stocks from Google Inc. to Yahoo Inc. plunged as investors sold the bull market’s biggest winners.
Options trading in benchmark gauges such as the Standard & Poor’s 500 Index is growing at the fastest pace since 2007, spurred by investors seeking protection from widespread declines after the broadest rally on record.
The Standard & Poor’s 500 Index rose a second week, the longest advance since September, as investors watched developments in government budget negotiations amid better-than-anticipated economic reports.
With the deadline for avoiding a U.S. default looming, investors from Boston to Bangalore are moving to cash, extending the maturities of their short-term Treasury holdings and buying options to help protect themselves should stock and bond prices tumble.