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The Footrace Takes a Turn

Daily Recap

If you'd rather bury your head in sand instead of reading today's recap, it would be hard to blame you. Friday's carnage continued into today's session, and resulted in one of the nastiest selloffs we've seen in quite some time. But as you take in the damage that was done today, make sure to recognize that it had nothing to do with economic data, which continues to come in strong.

 

Where to start ... okay, how about this – the Industrials suffered their biggest one-day point drop ever, falling nearly 1200 points to close at 24,345. The selling really heated up towards the end of the session, but on a more positive note, the index did not close on its lows ... at one point the Industrials had actually fallen below the 24,000 mark.

 

Unsurprisingly, just about every other major average sold off as well. The Transports fell 3.15%, the Utilities were ... Log in or subscribe to continue reading.


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