Monday, stocks plummeted 6.2% in Asia, 2.0% in Europe, and 2.4% in the U.S. on 17B shares traded. The VIX blasted 65% higher to end at 38.57. Precious metals and their miners fell 3%. Dow below 39,000, NYSE below 18,000, Apple below 210.
Tuesday, stocks gained 3.5% in Asia, 0.3% in Europe, and 1.1% in the U.S. on 14B shares traded. The VIX fell 28% to close at 27.71. The 10-Year U.S. Treasury bond yield rose 3% to end at 3.89. Precious metals fell 1%. Here’s an article that makes the case against the “soft landing” hopium narrative.
Wednesday, stocks rose 1.9% in Asia and 1.5% in Europe but fell 0.5% in the U.S. on 13B shares traded. 10-Year U.S. Treasury bond yield rose 2% to end at 3.97. Precious metals declined 1% and their miners dropped three times that amount. The S&P 500 closed below the 5200 level. The FOMC met and released its latest report with no change in rates and little change in stance.
Thursday, stocks lost 0.6% in Asia and ended little changed in Europe shot up 2.0% in the U.S. on 12B shares traded. The VIX dropped 15% to end at 23.79. Precious metals and their miners gained 2%. The Dow, S&P 500, and NYSE closed above 39,000, 5300, and 18,000 respectively. Apple and IBM ended above their respective 210 and 190 benchmarks.
Friday, stocks gained 1.4% in Asia, 0.6% in Europe, and 0.5% in the U.S. on 11B shares traded. The VIX fell 14% to 20.37. Finally, the Federal Reserve balance sheet declined 3B to 7.18T.