Monday, stocks in Asia gained 0.8%, closed little changed in Europe, and rose 0.6% in the U.S. on moderate volume. This gain was enough to push the S&P 500 Index above the 2400 milestone. Tuesday, stocks closed nearly unchanged worldwide on moderate volume. The VXO rose 6% to close at 10.12 as a flood of fake news filled the airwaves as President Trump fired FBI director Comey.
Wednesday, stocks closed little changed in Asia but fell 1.3% in Europe and 1.6% in the U.S. on high volume. The VXO shot up 37% to close at 13.88. The excuse given was that “investors” feared relentless news attacks on President Trump would derail economic reforms. The 10-Year U.S. Treasury Bond yield fell 5% to close at 2.22 while precious metals and their miners gained 2%.
Thursday, stocks fell 0.4% in Asia, and 0.5% in Europe but closed virtually unchanged in the U.S. on high volume. The VXO fell 9% to close at 12.69 while precious metals fell 1% and their miners fell three times that amount. Friday, stocks in Asia closed off slightly but in Europe gained 0.6% and in the U.S gained 1% on strong volume. The VXO fell 13% to close at 11.07.