Wall Street hit with sell-offs in both stocks and bonds

Stocks dropped sharply Thursday, with the Dow industrials down some 500 points, as the boost from the Bank of England’s emergency intervention started to fade.

The downdraft in markets comes after Wall Street indexes closed sharply higher on Wednesday as bond prices rallied.

Liquidity in the bond market has been low lately. Shares of CarMax are dropping. Berkshire boosted its stake in Occidental Petroleum. And Vanguard wants investors to remember bull markets can last much longer than bear markets.