Stocks Falter

Monday, stocks gained 0.4% in Asia, lost 0.4% in Europe, and fell 0.7% in the U.S. on moderate volume. Tuesday, stocks fell 2.2% in Asia, 1.6% in Europe, and 0.7% in the U.S. on high volume. The VXO moved up 10% to close at 21.81.

Wednesday stocks fell 0.5% in Asia, 0.2% in Europe, and 2.6% in the U.S. on very high volume. Major indices dropped below benchmarks. The Dow below 25,000, S&P below 2700, and NYSE below 12,000. IBM dropped well below 130 and Apple gave up the trillion dollar capitalization mark. The VXO shot up 23% to close at 26.62.

Thursday Asia down 2%, Europe up 0.6%, U.S. up 1.3% on very high volume. The VXO fell 5% to close at 25.38. The S&P and NYSE as well as Apple reclaimed the benchmark lost the day before. Precious metals miners tumbled 4%.

Friday, stocks fell 0.4% in Asia, 0.2% in Europe, and 1.2% in the U.S. on very high volume. The VXO moved up 6% to close at 26.95 while the 10-Year U.S. Treasury Bond yield fell 2% to close at 3.08. The S&P 500 and NYSE indices again fell below their respective benchmarks.

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