Stock market today June 11, 2020
June 11, 2020
Stock market today fell with heavy losses of more than 5%, Dow today fell more than 6,5% or 1800 points
Heavy losses today for all major stock indices. At the close today the stock market numbers were:
S&P 500: 3,002.59,-187.55(-5.88%)
Dow 30: 25,128.17,-1,861.82(-6.90%)
Russell 2000: 1,364.58,-102.81(-7.01%)
Source: Yahoo Finance
We have mentioned recently that the price levels of the US stock market needed a lot of caution. Stocks, especially stocks with poor fundamentals that are speculative bets.
Fears on possible coronavirus negative developments and a dovish outlook by the Fed contributed to today’s stock market selloff.
Among the most active stocks, today were American Airlines Group Inc. (AAL) stock closing at 14.38-2.64 (-15.51%) and Norwegian Cruise Line Holdings Ltd. (NCLH) stock with a stock price of 17.25-3.40 (-16.46%) at the close. Small-cap stocks today underperformed, the Russell 2000 index fell about 7%.
At 4:10 PM, ET time today oil price was lower and gold price higher. Crude oil plunged more than 8%.
Crude Oil: 36.11,-3.49(-8.81%)
At 4:13 PM, ET time today the 10-Yr Bond yield was lower at 0.6530,-0.0950(-12.70%). A decline for the bond yield or an increase in the 10-yr bond price suggests skepticism about the current risk-on sentiment in investing.