Tuesday, stocks rose 0.7% in Asia and 0.4% in Europe, and 0.6% in the U.S. on 16B shares traded. The 10-Year U.S. Treasury bond yield rose 2% to end at 4.54. Precious metals gained 2%. The S&P 500 index notched another record high close.
Wednesday, fell 0.6% in Asia and 0.9% in Europe but ended little changed in the U.S. on 15B shares traded. The S&P 500 index logged another record high close. The FOMC minutes confirmed restraint on lowering interest rates.
Thursday, stocks lost 1.0% in Asia, 0.3% in Europe, and 0.4% in the U.S. on 15B shares traded. Precious metals miners gained about 2%. The NASDAQ index ended below 20,000.
Friday, stocks gained 1.4% in Asia and 0.5% in Europe but lost 1.3% in the U.S. on 17B shares traded. The VIX shot up 16% to end at 18.21. The 10-Year U.S. Treasury bond yield fell 2% to end at 4.42. Precious metals lost 1% while their miners dropped three times that amount. The Dow Jones Industrials, S&P 500, and NYSE indices closed below their respective 44,000, 61000, and 20,000 benchmarks. What spooked the markets? How about the threat of another pandemic? Finally, the Federal Reserve balance sheet declined 32B to 6.78T.