Monday, stocks closed little changed in Asia, but rose 0.7% in Europe and 1.3% in the U.S. on low moderate volume. The S&P 500 Index again rose above its 2100 benchmark level. The 10-Year U.S Treasury Bond yield moved 3% higher to close at 2.24%. Precious metals gained 1.5% while their miners jumped up about four times that amount. The VXO fear index fell 15% to close at 12.52.
Tuesday, stocks fell around the world — in Asia 0.6%, in Europe 1.7%, and in the U.S. 0.9% on low moderate volume as China devalued its currency a bit. This dragged the S&P 500 Index below the 2100 level again. Oil slid 3.5% to close just over $44 per barrel while the 10-Year U.S Treasury Bond yield moved 4.5% lower to close at 2.14%. The VXO shot up 19% to close at 14.87.
Wednesday, saw stock losses accelerate early as Asia was down 1.4% and Europe 2.7% as the impact from the devaluation of the Yuan produced a snowball effect. U.S. stocks on the other hand recovered to lose only 0.2% on moderate volume. Thursday, stocks moved little in Asia, rose 0.9% in Europe, and fell 0.3% in the U.S. on low volume. Precious metals shed 1.5% and their miners lost about four times that amount. Oil slid 2% to close below $43 per barrel as fear intensified of an oil glut. The 10-Year U.S Treasury Bond yield moved 3% higher to close at 2.19%. Friday, socks closed little changed in Asia and Europe. In the U.S., stocks rose 0.3% on low volume. The VXO fell 6% to close at 13.93.