As traders continue to take in Wednesday’s aggressive Fed Minutes, which at the time caused US stocks to fall, and discuss their implications for the Fed’s policy tightening prospects, trading in US stocks. it has been much more moderate. The S&P 500 it has oscillated on both sides of the 4,700 level on Thursday between lows of 4,670 and highs of 4,720, and is currently down around 0.3% on the day. That leaves it roughly 2.5% below record levels of 4,820 earlier in the week.
The Nasdaq 100 Index, which fell more than 3.0% on Wednesday as the sharp rise in yields prompted the sale of so-called “growth” stocks (which include major technologies), is about 0.2% lower. at 15,700. The Dow, which held up comparatively better on Wednesday, falling just over 1.0% at the time, is underperforming Thursday and is down 0.6%, but is still well above the 36,000 mark. In terms of sectors, as yields continue to push higher, the financial sectors of the S&P 500 outperformed, gaining nearly 1.5%. The S&P 500 CBOE or VIX volatility index remained practically lateralized to just below 20.00, having risen from around 17.00 when stocks were sold off on Wednesday.
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