20:22
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Averages suffer worst week since 2011
- The major averages all plunged another 3%-plus to close the week.
- The Dow (NYSEARCA:DIA) lost 5.8% for the week - it's worst weekly stretch since September 2011 when the European debt crisis was at its peak and the U.S. had just been downgraded. The S&P 500 (NYSEARCA:SPY) fell 5.5% - also its worst week since Sept. 2011. The Nasdaq (NASDAQ:QQQ) fell 6.7%, its worst week since Aug. 2011.
- The Dow is lower by 7.6% YTD, the S&P 500 3.75%, and the Nasdaq 0.55%.
- The 10-year Treasury yield slipped three basis points to 2.04%, its lowest print since before the summer, and oil briefly fell below $40 per barrel (it's back to $40.34 at pixel time).
- Apple's (AAPL -6.1%) decline today put that stock 20% below its level of just one month ago, and the shares are in the red for the year to the tune of 4.2%. On a year-over-year basis, they're higher by 7.95%.
Posted in: Technical Analysis
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