FANGs Fall as Rates Rise

Monday, sticks fell 0.3% in Asia, rose slightly in Europe, and gained 0.3% in the U.S. on moderate volume. The big news for the day was a trade agreement with Canada. Tuesday, stocks in Asia fell 1.0%, in Europe fell 0.6%, and in the U.S. fell slightly. Despite that, the Dow closed at another record high.

Wednesday, stocks fell 1% in Asis, gained 0.5% in Europe, and closed little changed in the U.S. on high volume. The 10-Year U.S. Treasury Bond yield rose 3% to close at 3.16. Precious metals miners fell 2%. Thursday, stocks fell in Asia 1.3%, in Europe 1.0%, and in the U.S. 0.6% on high volume as Jerome Powell made hawkish comments. The NASDAQ fell far below the 8000 benchmark. The VXO shot up 22% to close at 14.07.

Friday, stocks closed down 0.9% in Europe and 0.4% in Asia and the U.S. on strong volume. The VXO moved up 8% to close at 15.26. The S&P, NYSE, and IBM closed below their 2900, 13,000, and 150 benchmarks respectively.

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