Monday, stocks fell in Asia 1.2%, in Europe 3.8% and 3% in the U.S. on very high volume. The VXO jumped up 45% to close at 25.60 and move sentiment solidly into the fear zone. The 10-Year U.S. Treasury bond yield fell 6% to close at 1.38. Precious metals and their miners rose 1%. The Dow Jones Industrial Average fell over 1000 points to close below the 28,000 level.
Tuesday, stocks fell in Asia 0.5%, in Europe 1.8%, and in the U.S. 2.4% on massive volume. The VXO moved up 14% to close at 29.59. The 10-Year U.S. Treasury bond yield fell 4% to close at record low of 1.32. Precious metals lost 1% and their miners dropped twice that amount. The NASDAQ closed below the 9000 benchmark.
Wednesday, stocks fell 0.9% in Asia, closed little changed in Europe, and dropped 0.6% in the U.S. on massive volume. The 10-Year U.S. Treasury bond yield fell 4% to close at new record low of 1.31. IBM closed below the 140 benchmark.
Thursday, stocks lost 0.8% in Asia, 3.6% in Europe, and 3.8% in the U.S. on mammoth volume. The VXO exploded 47% higher to close at 42.23. Precious metals miners where hammered 6% lower. The Dow lost nearly 1200 points to close below the 26,000 level. The S&P 500 shed nearly 140 points to close beneath the 3000 benchmark. The NYSE closed well below the 13,000 level. Apple declined to close well below the 280 level.
Friday, stocks closed down 2.3% in Asia, 3.6% in Europe, and 1.3% in the U.S. on gigantic volume. The VXO moved up 10% to close at 46.60. Precious metals and their miners crashed over 6%. This surge of fear swept stocks down over 10% for the week to bring them officially into correction mode.