US stocks massacred
- S&P 500 -325 points to 2386 (-11.98%)
- DJIA -2997 points to 20188 (-12.93%)
- Nasdaq -970 points to 6904 (-12.3%)
- Russell 2000 -14.5%
The numbers are breathtaking and the stock charts even moreso. A few months ago Boeing was bulletproof and now down 63% in a month. Airline and tourism stocks have been massacred. Almost nothing is higher than it was a month ago.
The S&P 500 is now 29.5% from its peak.
It was the worst day for the major US averages since 1987 and the worst day for the Russell 2000 ever. It's now 24% below Trump's inauguration and 11% below election night.
What I will say about that chart is that the failure to break the 2018 was a tell. Now, if it can hold the 2016 low, it might also be a tell. That's also the measured target of the double top.
