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Tuesday was a glorious day for US equity investors. The DJIA soared 416 points following action by the Federal Reserve Board to pump 200 billion dollars into the banking sector to shore up losses and ease credit.
Thursday stocks moved lower again with the DJIA closing down 214 points as we appeared to hit a perfect storm for equities. The US dollar fell as the price of crude oil climbed to over $105.00 per barrel.
Although stocks finished mixed on Tuesday after Monday's sharp decline, the DJIA ended down 45 points, with gold and oil service stocks pulling back sharply.
Equity markets continue to be challenged. The DJIA lost over 300 points on Friday, and our Viable Acquisitions Index fell into the yellow cautionary zone at 87 for Monday's open. Equity futures were also negative for the open on Monday.
Tuesday was a disastrous day for US equities, with the DJIA falling 370 points—the largest decline in nearly a year, and this follows on substantial losses for Monday. Together the losses of the past two days have nearly wiped out the substantial gains of all of last week.
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