Monday, stocks gained 0.7% in Europe but rose just slightly in Asia and the U.S. on moderate volume as the world waited for the results from the Singapore Summit happening five hours after the close. Tuesday, stocks closed little changed in Asia, Europe, and the U.S. on moderate volume as “investors” awaited the statement from the FOMC. Despite minimal movement. the NASDAQ closed above 7700 for the first time.
Wednesday, stocks in Asia fell 0.3%, closed little changed n Europe, and fell 0.5% in the U.S. on strong volume as the FOMC raised the fed funds rate another quarter percent and projected two more rate increases for the year. Thursday, stocks in Asia fell 1.1%, in Europe rose 1.3%, but in the U.S. closed little changed on moderate volume. The VXO dropped 11% to close at 10.49 as the NASDAQ logged another record closing high.
Friday, stocks moved down slightly in Asia, fell 1% in Europe, and lost 0.3% in the U.S. on rather weak volume for a quadruple witching day. The VXO fell 5% to close at 11.01. Precious metals and their miners fell about 2%.