Major Pullback In Stocks (SPY, QQQQ, GLD, USO, TLT, UUP)

The stock market was hit with a bout of profit-taking on Friday after riots broke out in Egypt amid political unrest. Disappointing earnings reports from the likes of Microsoft MSFT, Amazon AMZN and Ford F also contributed to the fearful climate. The Dow Jones Industrial Average plunged 166 points to 11,824. The widely watched blue-chip index traded in a range between 11,803 and 12,012. The SPDR S&P 500 ETF SPY lost 1.75% to $127.72. Volume was extremely heavy with nearly 270 million SPY shares trading hands compared to a 3-month daily average of 150 million. The PowerShares QQQ Trust ETF QQQQ, which tracks the performance of the Nasdaq 100, was absolutely crushed, losing 2.54% to $55.73. Volume was heavy with more than 113 million QQQQ shares trading hands compared to a 3-month daily average of just under 60 million. Gold surged off of multi-month lows as fear re-entered the market. COMEX gold climbed 1.36% to $1,337.80. The SPDR Gold Trust ETF GLD added 1.84% to $130.28. Crude oil also saw tremendous buying interest on the back of the Egyptian chaos. NYMEX crude futures skyrocketed 4.39% to $89.40. The United States Oil Fund ETF USO jumped 4.56% to $37.58. Treasuries caught a bid today as money flowed out of risk assets. The iShares Barclays 20+ Year Treasury Bond ETF TLT added 0.52% to $91.92. The yield on the 10-Year Note fell 6.2 basis points to 3.33%. Investors favored the perceived safety and liquidity The PowerShares DB US Dollar Index Bullish ETF UUP, which tracks the performance of the greenback versus a basket of foreign currencies, gained 0.63% to $22.49. The closely watched EUR/USD pair is currently trading at $1.3611.