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“Worst Single-Day” – Vista Partners Daily Market Recap 10/10/2018

by John Heerdink in Apple View Disclaimer
U.S. stocks tumbled on Wednesday, representing their worst single-day losses in months. The S&P 500 closed trading with declines of 3.29% (94.66 points) continuing a five-day streak of losses.  The Nasdaq fared similarly, dropping 4.08% (315.97 points). The Dow faced it’s largest single-day decline since February, falling 3.15% (831.83 points).
Every Dow component closed trading in the red, and tech stocks especially had a rough day.  Apple (AAPL) posted losses of 4.63%. Exxon (XOM) dropped 2.30%. And Microsoft (MSFT) tumbled 5.43%.
Atossa Genetics (ATOS) faced a decline of 4.79% today.
While stocks appearing grim today, investors have been closely watching Treasury notes. According to Art Cashin of UBS Financial Services, “Bond yields will remain the key.”
The Direxion Daily Small Cap Bear 3X ETF (TZA) soared 8.55% today and closed at $10.41 after hitting a high of $10.45.  This TZA investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the Russell 2000® Index.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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finance.yahoo.com

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