Volatility ETFs Whoosh Lower After Fed Says No Taper; Gold Surges

In volatility products, iPath S&P 500 VIX Short Term Futures ETN (NYSEArca: VXX) dropped almost 4%.

Fed chief Ben Bernanke was scheduled to hold a press conference Wednesday afternoon.

iPath S&P 500 VIX Short Term Futures ETN

SPDR Gold Shares

Full disclosure: Tom Lydon’s clients own GLD and TLT.