US equity indexes closed very significantly lower, SPX -54pts (1.5%) at 3585. Nasdaq comp' -1.5%. Dow -1.7%. The Transports settled -1.6%. R2K -0.7%.
SPX - daily
VIX - daily
Summary
US equities opened on a weak note, not helped by the latest hot PCE data, reflective of underlying inflationary pressures. The SPX printed 3614, but then battled back upward to 3671 by 11am.
The afternoon saw renewed downside, even breaking a new cycle low of 3584, and settling at 3585.
Despite the equity declines, volatility was ground a little lower into end month/quarter, the VIX settling -0.7% to 31.62.
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Goodnight
from London
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