S&P 500 Snapshot: Geopolitical Event Tanks the Market
Dr. Duru | Jul 18, 2014 12:52AM ET
The apparent missile attack that brought down a Malaysian Airlines passenger jet with 295 passengers and crew also tanked today's markets. The Eurozone's Stoxx 50 fell 1.41%. The US markets also closed in the deep red with the S&P 500 down 1.18%, fractionally off its 1.31% intraday low about 15 minutes before the final bell. A CNBC afternoon news item takes a glass-half-full perspective with in a piece entitled "Market reaction to Malaysia jet crash could be short-lived ".
Today's 1.18% decline was the biggest drop since the 2.09% plunge on April 10th.
The yield on the 10-year note ended the day at 2.47%, 8 bps below the previous close. It is now only 3 bps above its interim closing low of May 28th.
Here is a chart of the last five sessions. The index is up 5.94% year-to-date and 1.38% off its record close on July 3rd.
Here is a daily chart of the index. Volume was 27% above its 50-day moving average, but slightly below the 31% above yesterday.
For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recession.
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