The Dow Jones Industrial Average .DJI fell 665.75 points, below the psychologically important level of 26,000, which it had just broken through for the first time two-and-a-half weeks ago. The Dow's decline of 2.5% was mirrored in other major indices. The S&P 500 fell 2.2%, and the Nasdaq Composite declined 2%.
Markets got hit yesterday (Monday) and I haven’t seen that many experts try to explain it. How many realize last Thursday was 610 trading days from the August 2015 low? I saw that, Friday was another good market day and I said under my breathe, “here we go again.” But something happened between then and now. Monday was the first day I’ve seen in recent memory where my 1-minute YM charts had a hard time going up. It’s about time.
Donald Trump may or may not have the biggest nuclear button in the world, but his country does currently have one of the strongest equity indices. It’s the same old story for stock markets this afternoon as the Dow Jones has pushed to yet more record highs, this time breaking through the 25,000 level as another strong surge in oil prices, added to a strong ADP payroll print has pushed global equity markets higher.