Panick selling sends markets to 12-month lows.
The Dow Jones Industrial Average plunged nearly 500 points today before rebounding slightly as weak economic data from China panicked investors already concerned about the European debt crisis and an increasingly gloomy U.S Federal Reserve, which yesterday announced new stimulus efforts.
The markets are on track to close at a 12-month low, while the Volatility Index, also known as the market’s fear index jumped 13.92 percent to above 42.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.