Stock market commentary March 11 2020
March 11, 2020
Stocks plunge today and major indices are down more than 4%
Another very volatile day for the US stock market. At 11:34 AM, Wednesday, March 11, 2020, Eastern Time (ET) this is the current stock market update:
S&P 500: 2,771.15,-111.08(-3.85%)
Dow 30: 23,950.07,-1,068.09(-4.27%)
Russell 2000: 1,283.75,-67.15(-4.97%)
Crude Oil: 33.06,-1.30(-3.78%)
Stock market volatility remains high
The VIX index is at 53.15,+5.85(+12.37%), but it is worth mentioning that today the 10-Yr Bond yield is not declining so much, compared with other days, currently at 0.754,+0.006(+0.8021%). Could this be a sign that a bottom for stocks is near? It is too early to say that. Still the fear and uncertainty are key factors that both move the stock market. Dow Jones today is falling more than 1,000 points and most likely high levels of volatility will persist for some time making investing, stock trading, investing in stocks even riskier than usual.
Yesterday we wrote about Occidental Petroleum Corporation, and today the OXY stock drops more than 16%, currently at 12.02. A dividend cut almost never is good news for investing.