Time for a drink. It was not a great morning for data as jobless claims were statically unchanged for the week before, housing starts fell 14%, and mortgage rates soared which did not dissuade traders from their early morning sell-off…
The Dow fell under 30k for the first time since January 2022 and stayed there. The Dow closed down 741 points, or 2.42%, to finish at 29,927. The Nasdaq and the S&P saw even bigger falls closing down 4.08% and 3.25%, respectively. The 10-year at the bell was down 15 basis points to 3.19% and oil was up for the day at $117 a barrel.
- BIG LOSER: On day of almost all losers, the bigger loser of the day was Roblox (RBLX) which closed down just under 15.0% after an 8.0% jump yesterday.
- BIG WINNER: Not everyone had a down today as H. Lundbeck ended the day up 12.5% for some reason…
At least tomorrow is Friday…