In today's update:
1) U.S. Equity markets plummet into Bear Market territory as 11-year Bull Run is officially declared over. The Dow Jones Industrial Average dropped 1464.94 or 5.86%, the S&P 500 fell 140.85 or 4.89% while the NASDAQ 100 closed lower by 392.20 or 4.70% and the Russell 2000 finished lower by 86.60 or 6.41%.
2) Crude Oil Futures remained under pressure losing another $1.38 or 4.02% while Gold held steady finishing the day down just $3.00 or 0.2%. The Bond market traded sharply lower on Wednesday and the yield on the 10-Year Treasury Note settled at 0.872%.
3) The World Health Organization actually declared the Coronavirus a pandemic. This will most certainly result in stricter measures being taken around the world having a greater negative impact on economic activity and leading to lower stock prices around the globe.