Stocks Fall as NASDAQ Posts Record Highs

Monday, stocks closed unchanged in Asia, rose slightly in Europe and fell slightly in the U.S. on 10B shares traded. The 10-Year U.S. Treasury bond yield rose 3% to close at 1.50. Precious metals fell 1%. Apple closed above its 130 benchmark. 

Tuesday, stocks in Asia and Europe gained slightly but closed unchanged in the U.S. on 10B shares traded. The NASDAQ logged a record closing high even as Apple and IBM closed below their 130 and 150 benchmarks. 

Wednesday, stocks traded off 0.4% in Asia, gained slightly in Europe but fell 0.7% in the U.S. on 11B shares traded as the FOMC softened its stand over the prospect of raising rates in the distant future to rein in inflation. The VXO moved up 7% to close at 15.91. The 10-Year U.S. Treasury bond yield rose 5% to close at 1.57. Precious metals fell 1%, and Apple regained its 130 closing benchmark. 

Thursday, stocks fell 0.6% in Asia, closed unchanged in Europe, and fell 0.8% in the U.S. on 12B shares traded. The 10-Year U.S. Treasury bond yield fell 4% to close at 1.51. Precious metals fell 4% while their miners gave up 5%. Despite the Dow Jones Industrial Average closed below its 34,000 benchmark the NASDAQ recorded another record closing high. 

Friday, stocks closed little changed in Asia but fell 1.6% in Europe and in the U.S. on 15B shares traded. While that amount of trading was up from the norm, it was a bit tame for a quadruple witching day. The VXO shot up 25% to close at 19.18. Precious metals miners gave up another 2%. For the week, cryptocurrencies declined about 10%. 

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