In Today's Update:
1) U.S. Equities plunged again yesterday in a short but volatile trading session and is on pace for its worst December in stock market history. The Dow Jones Industrial Average dropped 653.17 or 2.91%, the S&P 500 fell 65.52 or 2.71% while the Nasdaq 100 closed lower by 140.08 or 2.21% and the Russell 2000 finished lower by 25.16%.
2) Crude Oil Futures set an 18-month low dropping another $2.91 or 6.38% while Gold Futures hit a six-month high gaining $14.40 or 1.14%. The Bond market also traded higher and the yield on the 10-year treasury note finished the day at 2.741%.
3) Stocks are officially in Bear Market territory after falling more than 20% from their highs. With numerous concerns on going like rising rates, the government shutdown, and the potential escalation of a full-scale trade war between U.S. and China, the only question should be can we bounce from here, and if so, how high and can it be sustained.