(As of 7:20 am PST)
US stocks are off to a choppy start Friday, with all
three major indexes on pace to finish with weekly losses. It’s been a back-and-forth week for equities
which has led to a spike in volatility. The CBOE volatility index (VIX), also
known as the fear gauge, reached its highest level since February when markets shed
2% yesterday, the worst trading day in a year. Lingering concerns over the Federal
Reserve’s next policy decision combined with a disappointing growth outlook in
China and Europe has caused a flight to safety in recent weeks. The US dollar
continues to surge as does the US treasury with rates on the 10 yr. dropping
below 2.3%, the lowest levels seen in over a year. Oil continues its decline while
gold is also lower on the day. International markets are broadly lower as
well. With little economic data to
report today, investors are remaining defensive heading into the weekend.
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