Stocks Slide as Bond Yields March Higher

Here’s an article speculating that this year likely will not maintain the stellar performance stocks registered in 2024.

Monday, stocks gained 0.5% in Asia and 1.0% in Europe but ended unchanged in the U.S. on 18B shares traded. Precious metals gained 1%.

Tuesday, stocks ended little changed in Asia, gained 0.3% in Europe but lost 0.3% in the U.S. on 21B shares traded. The VIX rose 11% to close at 17.82. Precious metals gained 1%.

Wednesday, stocks fell 0.8% in Asia but were little changed in Europe and the U.S. on 16B shares traded. Precious metals gained 1% and their miners rose twice that amount.

Thursday, stocks fell 0.6% in Asia but rose 0.5% in Europe. Markets were closed in the U.S. in respect of the death of President Carter.

Friday, stocks in Asia, in Europe, and in the U.S. on 17B shares traded. The VIX rose 10% to close at 19.54. The 10-Year U.S. Treasury bond yield rose 2% to end at 4.78.  Precious metals gained 1%.  The Dow, S&P 500, and NYSE closed below 42,000, 5900, and 19,000 respectively. Apple ended below 240, and IBM closed below 220. Finally, the Federal Reserve balance sheet advanced 2B to 6.85T.

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