Gold Rallies, Stocks Plunge as Global Market Selloff Resumes

Stocks are set for another selloff today. Wall Street could follow Asian markets and European equities with deep losses. Bank in Europe, especially, are plunging. Crude oil is trading below $27 a barrel. Gold prices are surging and have reached a 9 month high. Federal Reserve Chairwoman Janet Yellen heads back to Capitol Hill for another day of testimony. Today, she goes before the Senate Banking Committee. Yesterday, she indicated that interest rate increases could be on hold if global economic conditions warrant. Twitter (TWTR) is not gaining new users and its stock is falling. The social media company reported that it lost 2 million users in the last 3 months of 2015. Twitter needs to add active users or it risks becoming irrelevant. Weekly jobless claims will be released today. Qualcomm (QCOM) holds an analyst and investor meeting today. Freddie Mac issues its report on mortgage rates.