US equity indexes closed very significantly lower, SPX -65pts (1.6%) at 3936. Nasdaq comp' -1.6%. Dow -1.6%. The Transports settled -2.0%. R2K -2.9%.
SPX - daily
VIX - daily
Summary
US equities saw a holding pattern into the 2pm FOMC announcement.
As expected, we saw rate hike nine of 25bps to 4.75-5.00%
Equities saw an initial spike, with the SPX printing 4031.
The Powell duly appeared at 2.30pm...
 |
| Ohh yeah, the banking system is strong and resilient, especially FRC |
Equities cooled back from 4031, the SPX printing 3972, a secondary push to 4013, but ending on an outright ugly note, settling at 3936.
Volatility was mixed, the VIX printing 19.94, but settling +4.1% to 22.26.
Today's SPX candle is powerfully bearish engulfing, and bodes bearish, not least for a Thursday.
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Goodnight
from London
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