Market Update for Mar 9, 2020
In today's update:
1) U.S. Equity markets plunged on Monday after bond yields and oil hit multi-year lows. The Dow Jones Industrial Average dropped 2013.76 or 7.79%, the S&P 500 fell 225.81 or 7.60% while the Nasdaq-100 closed lower by 624.94 or 7.29% and the Russell 2000 finished lower by 135.79 or 9.37%.
2) Crude Oil Futures had their worst day since 1991 dropping $10.15 or 24.59% while Gold Futures held steady gaining $3.30 or 0.2% and the U.S. dollar continued to weaken. The Bond market traded significantly higher and the yield on the 10-Year Treasury Note settled at 0.551%.
3) Equity markets around the globe experienced panic selling Monday starting with the Nikkei 225 in Japan dropping over 5% and the FTSE 100 in the U.K. losing over 7.5% followed by U.S. Equity markets closing near their lows of the day and giving back over 7%. Equity markets have lost nearly $6 trillion since February 21, 2020.
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
