US equity indexes closed very significantly lower, SPX -88pts (1.9%) at 4567. Nasdaq comp' -1.5%. Dow -1.8%. The Transports settled -3.2%. R2K -2.0%.
SPX - daily5
VIX - daily3
Summary
US equities opened broadly weak, but there was an early reversal, with the Nasdaq turning positive. Yet... the Fed's Powell and US T-Sec' Yellen then appeared...
Powell said that 'it was time to retire transitory', and expects inflation to remain high into mid 2022. Further, there was talk that QE taper might be accelerated.
Neither equities, or the broader US capital markets were pleased to hear that, with some very significant downside into the late afternoon.
Volatility spiked, the VIX settling +18.4% to 27.19.
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Goodnight
from London
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