Monday, stocks fell 0.3% in Asia but rose 0.8% in Europe and 0.3% in the U.S. on 17B shares traded. The VIX dropped 5% to close at 18.39. The NASDAQ closed above 26,000.
Tuesday, stocks gained 0.9% in Asia and 0.4% in Europe but ended little changed in the U.S. on 17B shares traded. The VIX fell 5% to close at 17.52. Precious metals gained 1% and their miners rose twice that amount.
Wednesday, stocks ended little changed in Europe but advanced 1.9% in Asia and slightly in the U.S. on 17B shares traded. The FOMC left rates unchanged heading into the U.S. congressional election.
Thursday, stocks lost 0.3% in Asia but gained 0.8% in Europe and 1.1% in the U.S. on 18BÂ shares traded. Precious metals fell 2% while miners lost 3%.
Friday, stocks fell 1.2% in Asia, 0.4% in Europe, and 9.9% in the U.S. on 20B shares traded. The VIX moved up 13% to end at 19.42. Precious metals fell 4% and their miners gave back 5% as gold and silver broke below $4000/oz and $50/oz respectively. The Dow, NASDAQ, and S&P 500 closed below their 52,000, 26,000, and 7600 benchmarks respectively. Finally, here’s a sobering reminder of how the standard of living looks from the perspective of gold.