S&P down 1.52% or 31 points to 2012.85. Could've been worse.

The major US stock indices are ending the day down but off the days worst levels.

  • S&P is down 31.12 points or 1.52% to 2012.76. The index fell below the 100 day MA at 2023 and made new 3 month lows at 1989.68, but recovered a decent part of the decline
  • Nasdaq was down -104.32 points or 2.08% to 4903.09. The low extended to 4846 at the lows
  • The Dow settled down 276 points or 1.58% at 17148.94. The low extended to 16957.63. That is a recover from the low of 191 points.

Things could be worse. The German Dax fell 4.28% on the day and the big decliner was the Shanghai composite index which fell by -6.86%. The focus will be on that market in the new trading day.

In other markets today:

US bonds saw yields decline with the longer end outperforming. Specifically,

  • 2-year yield 1.028% down 2 BP
  • 5-year yield 1.725%, down 3 BP
  • 10 year yield 2.236%, down 3 BP
  • 30 year yield 2.98% down for BP

WTI crude is trading at $36.92 down -0.32%. Crude oil traded as high as $38.39 (Feb contract) before falling to a low of $36.33.