So You Had a Bad Day

We saw rivers of blood today. Let’s look at why in this brief market overview.

• S&P 500 (SPX): Closed at 5528, down by 2.12% (212 basis points). This marks the third worst day for the SPX year-to-date (YTD), with other significant declines occurring on August 5 (-3%) and July 24 (-2.31%). The market has experienced only three sessions since December 15, 2022, where the S&P fell more than 2%.
• Nasdaq-100 (NDX): Closed down 3.15% at 18,958.
• Russell 2000 (RTY): Declined by 3.14% to 2,148.
• Dow Jones Industrial Average (DJIA): Fell by 1.51%, closing at 40,936.
• VIX (Volatility Index): Rose 32.67%, closing at 20.65, indicating heightened market uncertainty.
• WTI Crude Oil: Fell by 4.46% to $70.27, reflecting growth fears.
• US 10-Year Treasury Yield: Dropped by 6 basis points to 3.84%.
• Gold: Declined slightly by 0.30%, settling at $2,492.
• Bitcoin: Closed down by 1.5% at 58,119.

Key Economic Data and Indicators