Dow skids 560 points to mark worst day in a month as surge in interest rates unsettles Wall Street bulls

marketwatch ^ | Feb. 25, 2021 at 4:05 p.m. ET | Mark DeCambre

[cann]

U.S. stock benchmarks on Thursday booked their worst selloff in weeks as a steady rise in government debt upended the market's bullish posture. The Dow Jones Industrial Average DJIA, -1.75% fell by about 560 points, or 1.8%, to 31,402, to mark its worst day since Jan. 29. the S&P 500 index SPX, -2.45% closed 2.4% lower at 3,831, while the Nasdaq Composite Index COMP, -3.52%, the most sensitive to rising yields, ended the session down 3.5% to 13,119

[aimhigh]

With interest rates are going up, I would have expected my TIPS (inflation protected bonds) to go up today. They didn’t.

[Repeal The 17th]

All money has to ‘sit’ somewhere.
Where did it go?

[terart]

not a stock person so what does this particular one do and are you talking about stock or loading up on options?

[billyboy15]

The thread was about the DOW.

[grey_whiskers]

It's an artificial fund constructed from a set of complex options and such, so that on average, it goes up when the S&P 500 goes down; but further, it goes up about 3x what the S&P 500 drops by.

Such things are useful for short term only; because of the nature of the underlying trades which make them up, such funds automatically leak value over time, so to speak, so you can't just park your money there and wait for the market to fall off a cliff.

[CharlesWayneCT]

Just finished my refinance, seem to have caught the interest rate bottom this time.

[Justa]

Same here. 1.867 on a 15-yr. refi.