1) U.S. Equity markets were down sharply on Wednesday as fear and selling intensify. The Dow Jones Industrial Average dropped 1338.46 or 6.30%, the S&P 500 fell 131.09 or 5.18% while the NASDAQ 100 closed lower by 344.94 or 4.70% and the Russell 2000 finished lower by 115.34 or 10.42%.
2) Crude Oil Futures dropped to an 18-year low as demand for crude continues to plummet while Gold Futures fell another $48.00 on more strength in the U.S. dollar. The Bond Market traded significantly lower and the yield on the 10-Year Treasury Note settled at 1.185%.
3) Recession fear grows and investors are selling anything and everything they can. From stocks and bonds to oil, gold, and even bitcoin investors are dumping all asset classes and moving to cash. The Futures Market just opened and DOW futures are down another 200 points. When will the selling subside?
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
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