BLACK SWAN RISING
SEPT 23 - Six months to the day in March when the market broke hit a bottom, it did plunge. The Nasdaq and S&P 500 fell more than 2%, and all 11 of the major S&P sectors closed lower. Energy - already the worst-performing sector this year - led the rout in its biggest single-day decline since
Hopes of a strong recovery and historic stimulus fueled the U.S. stock rally following the coronavirus-driven crash in March. But doubts over another relief bill and a sell-off in heavyweight technology-related stocks have weighed on sentiment since the market peaked on
The Fed is pleading for another bailout, further rattling markets since Congress is deadlocked over how big such a package should be, what should be in it and whether there should be one at all. The Senate, moreover, is otherwise occupied. Citigroup warned that market risks surrounding the coming presidential election could send gold prices to a record by the end of the year. But that is not what happened today. Gold took a dive.
And now, Naseem ....
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