Market Insider

Gold is just the tip of the 'Taper Tantrum'

Newly manufactured gold bars sit in storage racks ahead of stamping at a precious metal refinery near Mendrisio, Switzerland.
Gianluca Colla | Bloomberg | Getty Images

Look no further than Thursday's trading in to see a market throwing a taper tantrum.

November's stronger-than-expected retail sales gave another boost to the idea the Fed could begin to slow its bond buying this month. The 0.7 percent rise beat the 0.6 percent expected but also shows that sales extended beyond autos, which were at a six-year high in November.

Gold slumped more than 2 percent, while stocks and bonds also sold off. The and Dow were both lower since the opening bell, and the Nasdaq and Russell 2000 gave back early gains in afternoon trading. Treasury yields rose, with the 10-year edging above 2.88 percent.