Spooked Stocks Recover

Monday, stocks fell 1.3% in Asia, 1.7% in Europe and 1.8% in the U.S. on 12B shares traded. The VIX shot up 24% to close at 25.71. The 10-Year U.S. Treasury bond yield fell 4% to close at 1.31. Precious metals gained 1%. The Dow, NASDAQ, and S&P 500 closed below their 34,000, 15,000, and 4400 respective benchmarks. 
 
Tuesday, stocks fell 0.3% in Asia but gained 1.1% in Europe and moved up slightly in the U.S. on 10B shares traded. The VIX fell 5% to close at 24.36. Precious metals gained 1%. 

Wednesday, stocks declined 0.5% in Asia but gained 1% in Europe and in the U.S. on 10B shares traded. The VIX fell 14% to close at 20.87. The Dow Jones Industrial Average closed above its 34,000 benchmark. The FOMC released their statement hinting that they would begin tapering bond purchases late this year and stop them completely in mid 2022. 
Thursday, stocks climbed 0.6% in Asia, 0.9% in Europe, and 1.3% in the U.S. on 10B shares traded. The VIX fell 11% to close at 18.63 to end the day back in the greed zone. The 10-Year U.S. Treasury bond yield shot up 6% to close at 1.41. Precious metals lost 1% and their miners gave up twice that amount. The NASDAQ and S&P 500 closed above their 14,000 and 4400 levels respectively. 

Friday, stocks rose slightly in Asia but fell 0.9% in Europe and declined slightly in the U.S. on 9B shares traded. The 10-Year U.S. Treasury bond yield rose 4% to close at 1.46. Cryptocurrencies fell about 15% for the week.  In reaction to the flood of Wuhan Flu misinformation, here's an interesting article that tries to set the record straight. 

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