US equity indexes closed powerfully lower, SPX -164pts (4.0%) at 3924. Nasdaq comp' -4.7%. Dow -3.6%. The Transports settled -7.4%. R2K -3.5%.
SPX - daily
VIX - daily
Summary
US equities opened significantly lower, as the market was once again reminded - via Target, that corporate margins are narrowing, as the consumer is increasingly cash-strapped. The SPX spiraled into the late afternoon, for what turned out to be a Wednesday of horror.
Volatility spiked, the VIX printing 31.49, and settling +18.6% to 30.96.
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| Warm... if somewhat gloomy |
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Goodnight
from London
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