The Dow Jones plunged more than 1,000 points in the intraday panic index VIX surged 30% | Anue Juheng-US stocks

U.S. stocks are experiencing the worst stock crash since March 2020. The Dow Jones plunged more than 1,000 points in the intraday on Monday (24th), and the VIX panic index once touched 38.94, the highest intraday since November 2020.

Before the US stock market closed at noon on Monday, the Dow Jones blew more than 1,084 points and temporarily reported 33,215.44 points. The Nasdaq index tumbled 4.46 percent to 13,155.26, falling deep into correction territory. The S&P tumbled 3.72% to temporarily close at 4,234.25 points, also entering correction territory.

Feiban plummeted 4.84% to temporarily report 3,270.89 points. The Russell 2000 index entered a bear market, down more than 2.51%, and temporarily closed at 1,938.24 points.

Dow Jones component Boeing (BA-US), Disney (DIS-US), Microsoft (MSFT-US) led the decline, down more than 5%. 91% of S&P stocks fell in the session, with Moderna (MRNA-US) crashed more than 12%, Netflix (NFLX-US) crashed more than 10%, NVIDIA (NVDA-US) and Tesla (TSLA-US) fell more than 9%.

The VIX panic index soared, hitting 38.94 at one point, the highest intraday level since November 2020, and the New York Stock Exchange (NYSE) Arms Index, which measures the number of changers and changes in trading volume, came to 2.133. Analysts pointed to a rise to at least 2.000 as a sign of panic selling in the market.

Uncertainties clouded Wall Street, sparking a bloodbath in U.S. stocks on Monday, including the risk of war between Russia and Ukraine, unrest in the Middle East and the Federal Reserve (Fed) expected to reiterate its hawkish policy this week. Last week’s disappointing earnings reports from Netflix and Goldman Sachs also made Wall Street cautious about this week’s heavy tech earnings reports.

JJ Kinahan, chief market strategist at TD Ameritrade, said that every day last week, U.S. stocks performed worse in the final hour of trading, which tends to be a bad sign for the next day, and that negative sentiment continued on Monday.

Vital Knowledge founder Adam Crisafulli said in a note that the initial sell-off from the Fed’s exit added to earnings uncertainty last week. Investors now also have to worry about estimated price-to-earnings ratios.

The extent of the Russell 2000’s collapse depends on an acceleration in the economy. Investment bank Jefferies pointed out: “We think the market is starting to consider a recession. Otherwise, why is the Russell 2000 falling like before? The market believes that the Fed’s aggressive policy will boost the U.S. economy. A sharp slowdown over the next year, or even a recession.”

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.