Wall Street Erases Gains After Dow, S&P Suffer Greatest Loss Of The Year

Wall Street took a nosedive on Thursday as the Dow plunged over 350 points after Fed Chairman Ben Bernanke hinted the central bank may scale back its stimulus program later this year.Today is Quadruple Witch Friday, which means there’ll most likely be some elevated volume.There’s no US macro today, but looking ahead on the economic calendar for next week, Durable goods orders are released Tuesday, Wednesday revised first quarter GDP is released, and on Thursday, consumer spending is issued. The Dow Jones industrial average .DJI was up 12.19 points, or 0.08 percent, at 14,770.51. The Standard & Poor's 500 Index .SPX was up 0.44 points, or 0.03 percent, at 1,588.63. The Nasdaq Composite Index .IXIC was down 13.49 points, or 0.40 percent, at 3,351.15.