Following on the heels of the Federal Reserve announcing it may draw down its $85 billion per month bond-buying program sometime in mid-2014, U.S. stocks took a flying leap off the deep end.

“U.S. stocks fell sharply in midday trading and the yield on the 10-year Treasury note rose to the highest point since August 2011. Gold led a rout in commodity prices,” the Associated Press notes.

“The Dow Jones industrial average was down 209 points, or 1.4 percent, at 14,902 in midday trading Thursday,” the report adds:

Federal Reserve Hints at QE Drawdown, Markets Shaken

The Standard & Poor’s 500 index is down by 25 points, or 1.5 percent, to 1,603:

Federal Reserve Hints at QE Drawdown, Markets Shaken

Meanwhile, the Nasdaq composite is down by 51 points, or 1.5 percent, to 3,392 points:

Federal Reserve Hints at QE Drawdown, Markets Shaken

Markets are taking a severe beating:

Federal Reserve Hints at QE Drawdown, Markets Shaken Federal Reserve Hints at QE Drawdown, Markets Shaken Federal Reserve Hints at QE Drawdown, Markets Shaken
Federal Reserve Hints at QE Drawdown, Markets Shaken Federal Reserve Hints at QE Drawdown, Markets Shaken Federal Reserve Hints at QE Drawdown, Markets Shaken
Federal Reserve Hints at QE Drawdown, Markets Shaken Federal Reserve Hints at QE Drawdown, Markets Shaken

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