Flirting with the Bear

Monday, stocks gained slightly in Asia but closed unchanged in Europe and in the U.S. on 11B shares traded. The VIX fell 5% to close at 27.47. The 10-Year U.S. Treasury bond yield declined 2% to close at 2.88. Precious metals moved up 1%.

Tuesday, stocks rose 2.4% in Asia, 1.2% in Europe, and 1.9% in the U.S. on 12B shares traded. The VIX declined 5% to close at 26.10. The 10-Year U.S. Treasury bond yield moved up 3% to close at 2.97.

Wednesday, stocks advanced 1.6% in Asia but declined 1.1% in Europe and tumbled 3.2% in the U.S. on 13B shares traded. The VIX shot up 19% to close at 30.96. The 10-Year U.S. Treasury bond yield declined 2% to close at 2.88. Precious metals miners lost 3%. The Dow Jones Industrial Average ended below the 32,000 level while the S&P 500 Index closed below 4000.

Thursday, stocks fell 2.1% in Asia and 1.4% in Europe but ended little changed in the U.S. on 13B shares traded. The VIX shed 5% to close at 29.35. Precious metals gained 2% and their miners ended with a gain three times that amount. Apple and IBM closed below their 140 and 130 respective benchmarks.

Friday, stocks rose 2.3% in Asia, 0.7% in Europe, and 0.3% in the U.S. on 13B shares traded. The 10-Year U.S. Treasury bond yield declined 2% to close at 2.79. The S&P 500 index flirted with the bear level, but ended the week just shy of that mark.

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