Market Roundup
Dow
17,264.61 (-310.14)
Gold
$1,076.40 (+$4.10)
Oil
$37.19 (-$1.24)
The junk bond market has been bleeding for more than a year, with prices falling and yields rising. And while the carnage started in the energy sector, it has gradually spread throughout the high-risk bond and leveraged-credit markets.

Now, the troubles have claimed a major mutual fund victim — the Third Avenue Focused Credit Fund (TFCIX). The fund was chock full of junk bonds, stocks, warrants, loans and preferred shares, and those securities have been plunging in value.

To read the rest of my Afternoon Edition, click here ...