It's been a day of steady declines as poor economic data came out. Initial claims improved, but are still a far cry from good, and the U.S. manufacturing sector showed slowing growth. It's a better showing than China, which saw its manufacturing shrink this month. And new data confirms the eurozone's contracting economy is as bad as you think. Enter Goldman Sachs, which seemingly gave the markets a push over the edge after recommending investors short S&P 500.
That said, let's take a closer look at how the three major indexes are faring.
Index |
Gain/Loss |
Gain/Loss % |
Intraday Value |
---|---|---|---|
Dow Jones Industrial Average |
(164.08) |
(1.28%) |
12,660.31 |
Nasdaq |
(51.05) |
(1.74%) |
2,879.40 |
S&P 500 |
(20.27) |
(1.50%) |
1,335.42 |
Source: Yahoo! Finance as of 1:35 p.m. EDT.
The major U.S. indexes have given up ground all day, with the Nasdaq leading the charge into negative territory. All of today's chaos has the market's "fear index" soaring back in a big way; the VIX
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