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Richard’s Thoughts on Corrections and the VIX

Daily Recap

Markets were uncertain of how to react to yesterday's plunge in US stocks. Asian and European exchanges caught up by declining, but not that much. The Asia Dow lost 0.57% and the STOXX 600 fell 0.71%, not nearly as much as US indices had fallen.

US equities traded lower in the early morning, then regained ground to trade around the unchanged mark for much of the day. Near the close, the Industrials were down 76 points, while the S&P and the NASDAQ both lost about 5 points. NYSE gainers barely topped losers, by 1,561 to 1,361.

Gold responded to the uncertainty by trading above the key $1300 level, but couldn't hold onto its gains.  The yellow metal ended at $1287, down a buck. Silver was up a penny and platinum rose by $6. The miners were about unchanged, with XAU down half a percent..

Oil jumped by $1.45/bbl., aided by talk of a major ... Log in or subscribe to continue reading.

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