US equity indexes mostly closed broadly lower, SPX -31pts (0.8%) at 3942. Nasdaq comp' -2.3%. Dow +0.2%. The Transports settled -1.3%. R2K -1.5%.
SPX - daily
VIX - daily
Summary
US equities opened broadly lower, partly for s/t cyclical reasons, weak world markets, but especially due to SNAP and ANF. The latter were the latest reminders that the US economy is rapidly slowing, and falling into recession.
The SPX spiraled into the mid morning, printing 3875. There was a choppy recovery into the late afternoon, but that still made for most indexes settling broadly/significantly lower, as 'normal service' resumed.
Volatility picked up, the VIX settling +3.4% to 29.45.
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Meanwhile...
Record high fuel prices in the UK (at least in GBP)
Gasoline: 168.9 x 3.785 x 1.2525 = $8.01
Diesel: 180.9 x 3.785 x 1.2525 = $8.58
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Goodnight
from London
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