After The Bell: Stocks Get Slammed A Second Day

Andy Giersher
October 11, 2018 - 5:24 pm

(AP Photo/Richard Drew)

CHICAGO (WBBM NEWSRADIO) -- Stocks closed sharply lower in volatile trading Thursday as investors shifted from riskier assets to traditional safe havens like bonds and precious metals.

The S&P 500 lost 57, the Nasdaq shed 93 and the Dow Jones industrial average closed down over 545 points, settling to 25,052. After Thursday's close, the Dow has shed more than 1,300 points over the past two sessions.

"I think there is a general recognition that interest rates across the board are just too low,” Jack Ablin, chief investment officer at Cresset Wealth Advisors in Chicago, said. “This is something we've enjoyed now for nearly the last ten years, thanks to unprecedented central bank intervention, in an effort to try to get investors to take more risk.”

He adds that the recent sell-off appears to be just another classic correction and re-balance.