10 things you need to know today: June 21, 2013

Stocks have their worst day of the year, FDA approves sale of Plan B pill without restrictions, and more

Plan B
(Image credit: Justin Sullivan/Getty Images)

1. STOCKS HAVE THEIR WORST DAY OF THE YEAR

The Dow Jones Industrial Average took its steepest dive of the year on Thursday, losing 353 points a day after the Federal Reserve hinted it might end its bond-buying stimulus program later this year. The 2.3 percent drop followed heavy declines for stocks on Wednesday. "What the Fed's action did," said Paul Lambert of Insight Investment, "was to confirm that unless things in the U.S. get worse, then the music is going to be turned down at the party and the dancing is about to end." [Wall Street Journal]

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.