Is Taper Terror Sinking the Dow?http://www.fool.com/investing/general/2013/12/03/is-taper-terror-sinking-the-dow.aspx Amanda Alix
December 3, 2013
The Dow Jones Industrial Average (DJINDICES: ^DJI) is looking down in the dumps today, having dropped 120 points with about an hour left in the trading session. Without much economic news on tap today, the slump could be a reaction to some glad tidings yesterday that may be reigniting fears of a Federal Reserve move to taper its quantitative-easing program earlier than expected.
One early-morning announcement may also be fueling taper fears: November car sales. The Thanksgiving holiday weekend appears to have goosed auto sales, with all three U.S. automakers saying that sales were especially strong in November -- particularly toward the end of the month. Overall, sales rose about 7% from the same time last year.
Big banks drop by late morning