Market Update for Mar 16, 2020
In today's update:
1) U.S. Equity markets plummet again after Fed's weekend announcement fails to spark buying. The Dow Jones Industrial Average dropped 2997.10 or 12.93% and the S&P 500 fell 324.89 or 11.98% while the NASDAQ 100 closed lower by 970.28 or 12.32% and the Russell 2000 finished lower by 172.72 or 14.27%.
2) Crude Oil Futures fell another $3.03 or 9.5% as demand continues to drop while Gold Futures dropped 14.10 or 0.90%. The Bond market closed sharply higher and the yield on the 10-Year Treasury Note settled at 0.722%.
3) The U.S. Equity markets have fallen approximately 30% from their highs in just the past month. This has resulted in many investors wondering if we are headed for a recession or a depression. No one can know for sure, but it's the uncertainty that is really hurting this market.
About the author
Vince Vora is the head trader at TradingWins.com. Over the last three decades, he has been trading and refining his trading systems that are based on technical analysis and price action. Over the last few years, his focus has been on teaching people how to become better traders. His systems range from simple to sophisticated and can be used in any market conditions to trade stocks, options, futures and forex. By: TradingWins Team
