The rollercoaster ride on Wall Street continued for yet another day as economic jitters and euro-zone fears crushed equities and sent the blue chips spiraling more than 500 points. Hit the jump to read the rest of the story.
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The Dow Jones Industrial Average tumbled 520 points, or 4.6%, to 10,720, the S&P 500 slid 51.8 points, or 4.4%, to 1,121 and the Nasdaq Composite dipped 101 points, or 4.1%, to 2,381.

The euro zone debt crisis, which had fallen into the background, once again took the spotlight on Wednesday. Trading was ferocious once again, with the VIX, Wall Street’s volatility gauge, soared 25%.
The selloff represents “an across-the-board repricing of risk to reflect the fact that economic growth in U.S. and Europe is not what people thought it was,”said Jim Rickards, senior managing director for market intelligence at Omnis.
Gold prices extended their meteoric run as traders once again sought out shelter from free-falling equities. The precious metal jumped $41.30, or 2.4%, to $1,784 a troy ounce. Meanwhile, long-term Treasury prices once again rallied, pushing the yield on the 10-year note to 2.14%.
The U.S. financial sector, which sustained steep losses on Monday, only to rebound on Tuesday, were once again deep in negative territory. Bank of America (BAC: 6.77, -0.83, -10.92%) plummeted more than 10% and was the second-worst performing component of the Dow. Volume on the New York Stock Exchange clocked in at 8.2 billion shares, shy of the five-day average of 8.6 billion, but well higher than the 4.3 billion year-to-date mean.
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