NASDAQ and S&P 500 Enter Correction Territory

Monday, stocks ended little changed in Europe but fell 0.8% in Asia and 0.6% in the U.S. on 11B shares traded. The VIX fell 6% to close at 20.37. The 10-Year U.S. Treasury bond yield declined 2% to end at 4.84. Precious metals and their miners slipped about 1%. The Dow Jones Industrials and NYSE closed below 33,000 and 15,000 respectively while the NASDAQ ended above 13,000.

Tuesday, stocks closed unchanged in Asia but rose 0.4% in Europe, and 0.5% in the U.S. on 11B shares traded. The VIX move back into the greed zone by falling 7% to close at 18.97. Precious metals fell about 1%. The Dow, S&P 500, and NYSE ended above 33,000, 4200, and 15,000 respectively.

Wednesday, stocks rose 0.3% in Asia, closed little changed in Europe, but fell 0.7% in the U.S. on 11B shares traded. The VIX moved back into fear territory with a 9% decline to close at 20.76. The 10-Year U.S. Treasury bond yield advanced 2% to end at 4.95. The NASDAQ, S&P 500, and NYSE indices ended below their respective 13,000, 4200, and 15,000 levels. This moves the NASDAQ  into correction territory.

Thursday, stocks fell 1.2% in Asia, 0.5% in Europe but ended unchanged in the U.S. on 12B shares traded. The 10-Year U.S. Treasury bond yield declined 2% to end at 4.84. The Dow Jones Industrial Average ended below the 33,000 level. Apple closed below 170 while IBM ended above 140.

Friday, stocks gained 1.3% in Asia but lost 1.0% in Europe and 1.2% in the U.S. on 11B shares traded. Precious metals and their miners gained 2%. The S&P 500 Index followed the NASDAQ into correction territory. Finally, the Federal Reserve balance sheet declined 25B to 7.91T.

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