Wild Ride

Monday, stocks in Asia and Europe fell 0.4%. In the U.S. they fell 2.4% on low volume. The VXO shot up 16% to close at 37.34. The Dow Jones Industrial Average dropped below 22,000, the NYSE closed below 11,000 and the S&P 500 ended the day more than 20% below its recent high. Since this high was registered during the day and not at the close, there is some dispute whether or not this officially marked the day as the start of a bear market. Apple slid below 150. IBM closed below 110. Precious metals gained 1% while their miners rose three times that amount. Cryptocurrencies gained about 10% for the day.

Tuesday, markets were closed for Christmas. Wednesday, stocks in Asia gained slightly, remained closed in Europe, and blasted 4% higher in the U.S. on very high volume. The VXO fell 12% to close at 32.83. This brought the Dow and NYSE above the 22,000 and 11,000 benchmarks and Apple above 150 and 110 respectively. Precious metals miners fell 2% while the 10-Year U.S. Treasury Bond yield rose 2% to close at 2.80.

Thursday, stocks closed up 1.9% in Asia, down 1.8% in Europe, and rose 0.7% in the U.S. on very high volume. Precious metals miners gained 2% while cryptocurrencies dropped 10%. The 10-Year U.S. Treasury Bond yield fell 2% to close at 2.74. The Dow re-captured the 23,000 benchmark.

Friday, stocks gained 0.5% in Asia and 2% in Europe. Despite ups and downs during the day, U.S. stocks ended the day little changed on high volume. The VXO fell 7% to close at 31.64. Cryptocurrencies gained 25% for the week.

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