Another ugly day for US equities, but could have been worse


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Nasdaq closes mid-range but rally higher fails too

The US major indices are ending the session with more significant losses. Moreover, the S&P and Dow indices are now negative on the year. The Nasdaq is just above it’s EOY closing level — but just barely. 

Above is a graphical look at the point and percentage changes for the major European and North American indices.  
Although the numbers are bad for the US indices, it could have been worse. The Nasdaq moved down about 2.75% at the lows but is ending the session down ONLY 1.7%.  The Dow was the big loser with a % decline of -2.21%.  It was down about -2.6% at the lows. 
The S&P and Dow are closing below their 2017 end of year closing levels. The Nasdaq is just above its EOY close

  • S&P index closed 2017 at 2,673.61. The close today is 2641.89
  • Nasdaq index closed 2017 at 6,903. The close today came in at 6908.82
  • Dow closed 2017 at 24,719.22. It closed today at 24,465.66

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