- NASDAQ index falls over -2%. S&P declines -1.17%
- Canada widens deficit forecasts, slashes growth forecasts: debt-to-GDP seen rising to 43%
- RBNZ financial stability review: Financial risks remain heighted.NZDUSD trades to new lows
- Crude oil settles at $60.56
- NY TImes: Trump administration looks at options for military action in Venezuela
- Apollo withdraws offer to buy Papa John's. Shares crater.
- Bitcoin falls below the $100,000 level for the 1st time since June 23
- Signs that we're in the endgame of the US government shutdown mount
- Bitcoin the canary once again as US stocks follow it lower
- Gold falls hard then rebounds as the battle continues
- Tech Slump: Tesla and Google Lead Today's Decline While Defensive Stocks Rise
- Trump's disapproval rating is at the highest of either term
- The coppper market keeps getting tighter
- The US government shutdown is no longer affecting only American data
- investingLive European FX news wrap: Risk-off mood despite lack of catalysts
- Earnings Analysis: Large-Caps Turn Sharply Negative After Market Close Yesterday
- ECB's Patsalides: European economy is showing resilience
US stocks moved sharply lower with technology toward the most with Palantir shares down -8% despite beating estimates and raising their guidance. CEO Alex Carp ranted on CNBC about shorts and in particular Michael Burry who in his public filings late Monday showed a good position in both Nvidia and Palantir. BTW Alex your stock is still up 152% for the year. Chill. Nvidia shares fell -4%.
Overall the NASDAQ index was down -2.04%, while the S&P index is down -1.17%.
Looking at the major components of the S&P,
Information Technology: -2.27%
Consumer Discretionary: -1.85%
Telecommunication Services: -1.52%
Energy: -1.12%
Industrials: -1.15%
Materials: -0.44%
Utilities: -0.36%
Consumer Staples: +0.05%
Real Estate: +0.30%
Health Care: +0.40%
Financials: +0.55%
In the other risk asset bitcoin, it too fell shortly, with the price currently back below the $100,000 level and $99,063. That is down $-7468 or -6.99% on the day. That is near the 7% decline from October 10.
The US dollar was mostly higher with gains of 1% versus the NZD and 0.91% versus the GBP. The greenback was only lower versus the JPY.
A snapshot of the USD moves vs the major currencies showed:
- EUR +0.32%
- JPY -0.36%
- GBP +0.91%
- CHF +0.28%
- CA +0.34%
- AUD +0.78%
- NZD +1.0%
The dollar index moved above the 100 level for the 1st time since August 1. It is approaching its 200 day moving average at 100.422. The high price today reached 100.255. The index is up 4.20% since bottoming on September 18.
Yields in the US moved lower with gains of near 2.5 basis points across the curve:
- 2-year yield 3.575%, -2.4 basis points
- 5 year yield 3.694%, -2.1 basis points
- 10 year yield 4.083%, -2.4 basis points
- 30 year yield 4.665%, -2.4 basis points
