Stocks were down strong, down -1.83%
Bonds were up strong 0.32%
US Dollar was up strong 0.32% versus a basket of world currencies, and up an extraordinary amount 0.83% versus the Euro.
Asian and European stocks were generally up, but US markets interpreted European finance news negatively today.
Gold was up strong, acting I was would expect on a strong downward moving stock day.
Oil was understandably down, -0.89%
While overall, stocks YTD are still performing similar to recent years’ price patterns for the first quarter, today was a significant break from the upward trend of the last few months.
In domestic economic news, manufacturing activity in Chicago declined and activity in Dallas grew less than expected.
Stocks peaked at 1531 this year so far. They closed today at 1487. If they hit 1470, that will mean stocks will have dropped about 4% from their YTD highs. That will also mean most investors could have made money from the sale and buyback of stocks (even after increased short term tax consequences).
I have no idea where stocks go next.
It is understandable that stocks would go down from these high levels – with no little or no regard to the outcome of Italy’s elections.
Disclaimer: These posts are not written by a professional or licensed financial advisor. There’s nothing for sale here. This is just a discussion forum. No one should make any decisions based on representations made on this informal blog. These posts are just one layperson’s opinions, concerns, and observations about asset classes – a part of larger, never-ending discussions. Any signigicant financial decisions should be discussed with at least a few trusted and experienced financial advisors before acting.