US equity indexes closed powerfully lower, sp -106pts (3.4%) at 3023. Nasdaq comp' -3.1%. Dow -3.6%. The Transports settled -5.3%.
US equities opened very significantly lower, with further Corona related headlines. With the US 10yr yield printing 0.89%, equities were increasingly pressured lower into the late afternoon.
Gundlach made an appearance on the CNBC lunchtime show...
Gundlach believes the Fed will cut by another -50bps to 0.50-0.75% at the FOMC of March 18th, and I could agree with that. Gundlach ended with "I applaud Jay Powell, and I do not believe he will go to negative interest rates".... of which I do NOT agree, as the Fed appear tragically content to follow Japan and Europe.
The afternoon saw further downside to sp'2999 with VIX 42s, with a little recovery spike into the close. Volatility picked up, with the VIX settling +23.8% at 39.62.
South Korea, Italy, and Iran, remain key secondary outbreaks. It won't be long until France, Germany, the UK, and USA have similar numbers.
Finally, the war between two billionaires continues...
The year is 2020, and that is all I have got to say 'bout that.
Extra charts in AH (usually around 5pm EST) @
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