Wall Street Quickly Retreats on Economic Worries
Markets Fall 2% on Concerns About Slowing Recovery
Shares on Wall Street quickly retreated Wednesday morning in
the face of the Fed's decision to buy government debt and
more economic news that pointed to a slowdown, both in the
United States and China.
In the bond market, the price of the 10-year Treasury note
continued to rise, as yields fell to lows not seen in more
than a year. The 10-year yield was at 2.72 percent from 2.76
percent late Tuesday.
And the dollar strengthened against the euro, but hit a
15-year low against the yen, driving the Nikkei index sharply
lower.
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