In another of those inexplicable contradictions, the Asia Dow fell 0.4% today, despite big gains in Hong Kong and Singapore, and smaller gains across the board. Whatever... In Europe, the STOXX 600 eased into the close as NY stocks tumbled; it finished with a modest 0.08% loss on a day when most exchanges were closed.
US shares opened down a bit, and then immediately sold off with vigor. The reason is not clear, though mumbles about trade concerns, the Fed, and earnings were proffered as explanations. The US decided not to extend tariffs to the EU, but there were negative earnings reports from Pfizer, Mickey Ds, and others.
Fixed income markets were quietly lower all day. The 10-year note closed with a 2.971% yield. Currencies sold off vs. the dollar, and the dollar index soared to 92.27, up a big 0.7%.
Precious metals got hammered, with silver breaking further below support, ... Log in or subscribe to continue reading.