Nightly News | June 20, 2013
>>> good evening, this was the worst day of the year on wall street , and unlike other dips and dives in the stock market , the reason for what happened today was pretty clear. it was the nation's top money man, the chair of the federal reserve , who just yesterday gave a mostly positive review of the economy. but also in there was a warning that cheap borrowing may be coming to an end. that was the back drop and today the people who buy and sell stocks for a living, chose to sell, and the numbers went down. in a moment, we'll talk about how homeowners are watching this closely. let's go to where the damage was done, maria bartiromo on wall street in new york.
>> reporter: hi, brian. good evening to you. at this point, everybody has gone home at the new york symptom stock exchange . today's 350-point sell-off comes after yesterday's 200 huf point sell-off, as the federal reserve suggested winding down of the stimulus will begin at the end this year. why is that such a bad thing? once the stimulus goes away, interest rates begin to creep up, take money out of stock market and into fixed income, into bonds. while i keep my money into the stock market which is riskier, and the bond market is a bit safer. that is the thinking. i don't think interest rates will skyrocket out of control and we're down about 5%. 4.8% from the all-time highs in the market, reached in may. every time we've seen a sell-off of 5%, a lot of people expecting a correction of 5%. each time we've seen that, that selling has been met by buyers, the so-called buy on the dip mentality. i suspect we'll see a buy on the dip mentally once again, unclear if that happens tomorrow or later. looks like we'll be into choppy waters the next couple of weeks, brian.
>> mariairobartiromo, where the damage occurred.