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Weekly economic and financial commentary
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United States: Another Week, Another Strong Showing from the U.S. Consumer
Robust retail sales data were the main story on the U.S. economic data
front thi...
1 hour ago
Stocks attempted to rally on Friday, but failed, concluding one of the most volatile weeks on Wall Street ever as investors grapple with mounting fears over the coronavirus’ economic blow.
ReplyDeleteThe Dow Jones Industrial Average closed 913.21 points lower, or more than 4%, at 19,173.98 after rallying more than 400 points earlier in the day. The S&P 500 slid 4.3% to 2,304.92. The Nasdaq Composite closed 3.8% lower at 6,879.52 after jumping more than 2%.
The Dow dropped more than 17% for the week, its biggest one-week fall since October 2008, when it slid 18.2%. The S&P 500 lost more than 13% week to date after dropping another 11.5% last week. The Nasdaq fell 12.6%. Both the S&P 500 and Nasdaq also had their worst weekly performances since the financial crisis in 2008. The 30-stock Dow is now 35.2% below its all-time high level from February, while the S&P 500 is 32.1% below its high.
CW,
DeleteFriday morning our time S&P futures down -2% when STI opens.
After Euope open and during our STI closing, S&P futures up 4%.
S&P closes with -4% loss for the night.
Good luck trying to buy-the-dip or sell-the-rip!
Bulls and bears both lost money. Unless you are the nimblest and best of the best day trader ;)
Look like the real winners are the house
DeleteFirst time in my life see such a roller coaster dive down the rail in the market within a short period.
ReplyDeleteBy seeing it on our own eyes; it may help to shape our money, risk and portfolio management and investing strategy for future market cycles
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