US equity indexes closed very significantly lower, SPX -79pts (1.6%) at 4845. Nasdaq comp' -2.2%. Dow -0.8%. The Transports settled -1.6%. R2K -2.5%
SPX - daily
VIX - daily
Summary
US equities opened on a weak note, for what was a case of post tech-earnings depression (AMD, GOOGL, MSFT).
The Fed issued a press release at 2pm, with Powell duly appearing at 2.30pm...
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| Powell couldn't resist saying something stupid. |
Equities initially rallied with Powell to 4904, but then took a sig' swing lower, as Powell said a rate cut was unlikely in March, the SPX spiraling to settle right at the lows... 4845.
Volatility picked up, the VIX settling +7.8% to 14.35.
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Despite today, the SPX still settled net higher for January by +75pts (1.6%), having just yesterday printing a new hist' high of 4931.
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Goodnight
from London
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