Prices plunged from the start; they came back later in the afternoon, yet at the close the S&P500 had lost -1.61 percent, the NASDAQ was off -1.37 percent and the DJIA fell 1.13 percent. Todays falloff, the worst in 49 trading days, ended the succession of gains that began on April 15.
To put these results in perspective, we have ranked daily decreases by their size. In that array, only 560 closes of the S&P500 experienced losses worse than todays -1.61 percent. Similarly, the NASDAQ decline occupies the 887th position, meaning that of its 4,300 negative days, the -1.37 percent decline has only 886 more substantial than today and some 3,400 smaller.
Meanwhile the DJIA suffered the least damage. Its -1.13 percent change, being the softest of the three, is reflected by its place of only the 1,155th largest of 7,185 negative sessions since 1950.
The outlook for the next day, based on the history of todays pattern, fails to yield a strong turnaround. Whereas the NASDAQs record shows an even number of gains and losses, the S&P500 has 7 losses and only 5 recoveries, and the DJIAs ratio is 8 losses to 4 increases.
Note that in evaluating the MarketViewUS projection for today, it failed to provide even a hint of its extent. Moreover, the existing data were unable to point unambiguously even to the markets direction, with the DJIAs -7/+4 record, the +6/6 S&P500 history and the NASDAQs past of 9 advances
and 3 declines.
DJIA -1.13 percent
NASDAQ -1.37 percent
S&P500 -1.61 percent