( The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest update from IBD and Bloomberg and will be moved to the top of the board.)
FYI:
Global stocks and bond yields slid Friday as weak manufacturing data deepened investors’ anxiety about the health of the world economy.
The Dow lost points 459 or1.77 % to close at 25502. The S&P 500 lost 1.90% while the Nasdaq was down 2.50%..
A report Friday showed factory output in the eurozone fell in March at the fastest pace in six years, while a gauge of U.S. manufacturing activity slipped to its lowest level in nearly two years. The data sent bond yields tumbling, with the German 10-year bond yield trading in negative territory for the first time since 2016 and the yield on the 10-year Treasury note at 2.453%, a fresh low for the year.
Meanwhile, stocks across the world retreated, and benchmark indexes in France, the U.K. and Germany ending down more than 1% apiece.
Bank stocks slid again Friday, putting the KBW Nasdaq Bank Index of large lenders on track for its biggest one-week slide since December. The group has been hit particularly hard by recent stock declines, in part because lower interest rates and slowing growth bode poorly for lending profitability.
Bank of America shed 4.5%, while Morgan Stanley declined 3.6% and Goldman Sachs fell 2.5%.
Commodities prices and stock sectors tied to them retreated, underscoring the dimming outlook for the global economy.
The S&P 500 energy and materials sectors each lost nearly 3%, while copper futures-—which tend to rise when investors expect growth to boost consumption of industrial materials-—retreated to a one-month low.
Of the eleven S&P 500 Sectors only one, Utilities finished with a gain. The other ten were down with Materials and Financials
Regards
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-03-22/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-futures-point-lower-after-europe-data-underlines-growth-worries-2019-03-22/printWSJ:
https://www.wsj.com/articles/markets-show-calm-after-brexit-delay-11553244944Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-21/asia-stocks-to-edge-up-as-u-s-gains-dollar-rises-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-loses-460-points-stock-market-today-nike-gets-slammed/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-st-tumbles-as-weak-factory-data-fuels-slowdown-worries-idUSKCN1R31IACNBC:
https://www.cnbc.com/2019/03/22/stock-market-wall-street-in-focus-as-growth-concerns-persist.htmlU.K.:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-sinks-as-sterling-gains-on-brexit-relief-idUKKCN1R30XVEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-dive-after-grim-flash-pmi-surveys-idUSKCN1R30X8Asia:
https://www.marketwatch.com/story/asian-markets-mixed-as-investors-process-feds-outlook-2019-03-21/printBonds:
https://www.cnbc.com/2019/03/22/us-bonds-treasury-yields-move-lower-as-investors-await-economic-data.htmlCurrencies:
https://www.cnbc.com/2019/03/22/forex-market-brexit-extension-sterling-in-focus.htmlOil:
https://www.cnbc.com/2019/03/22/oil-market-opec-supply-cuts-us-sanctions-in-focus.htmlGold
https://www.cnbc.com/2019/03/22/gold-market-us-economy-brexit-extension-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
Comments
Regards,
Ted
■ ■ ■ ■ ■ ■ ■ ■ THIS POST IS A VIOLATION OF MFO POSTING STANDARDS ■ ■ ■ ■ ■ ■ ■ ■
⇒ This post had few views and NO comments. It has been falsly and deliberately "bumped" into the COMMENTS + section by the poster himself, without earning any legitimate qualifying comments.
He deliberately and cynically does this with his BS "Update" comments so as to force this post "to the top of the board". He is well aware that this is in violation of MFO standard practice, but he believes that the rules for him are different than those for everyone else. He's just special.