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A Change of Plans

Daily Recap

Things got wild again today in the stock, bond, and metals markets. Equities were decisively lower overseas, with the Asia Dow losing 0.96% and the STOXX 600 falling 1.26%.  In the US, stocks were lower almost all day, and once again finished with big losses.

At the closing bell, the Dow Industrials were down more than 1% for the third day in a row, finishing down 420 points or 1.68%.  The S&P surrendered 1.33%, and the NASDAQ 1.27%.  The Utilities Average was unchanged, beneficiary of demand for safer securities during the day's rout.  Already-skittish investors were not encouraged when President Trump announced his intention to place "indefinite" steel and aluminum tariffs, sparking fears of trade wars.  Advancing issues on the NYSE numbered 1,185, compared to 1,774 decliners.

Fixed income markets rallied, as investors sold stocks to buy less volatile bonds.  The 10-year T-note's yield fell to 2.808%, down nearly a tenth of ... Log in or subscribe to continue reading.

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