With less than an hour left to go in the trading day, the Dow Jones average is down almost 280 points on the day, nearly every stock on the S&P 500 is in the red, and the NASDAQ is slumped as well. Oh, and interest rates on treasury bonds are in the tank, a sign that, as Business Insider's Joe Weisenthal explains, investors don't want their money anywhere near the stock market. The Dow Jones which had rallied well back in February and March and hit a four-year high in April, is now below where it started at beginning of January.
The next few weeks aren't going to be any better either. June is traditionally a terrible month for the markets, economic signs all around the globe are trending down, there's another Greek election on June 17 that could be the first step toward its exit from the eurozone. Oh, and that's just a couple of days before the Federal Reserve board meets to possibly discuss a third round of quantitative easing. Did we mention that the Supreme Court will release its Obamacare ruling any time now? So basically the entire financial world will be walking on eggshells for the rest of the month.