The S&P 500, the flagship U.S. inventory market index, is now performing like a meme coin with extraordinarily risky worth swings.
In actual fact, in keeping with Bloomberg’s Eric Balchunas, it’s now extra risky than Bitcoin, the biggest cryptocurrency.
Following the newest crash, the S&P 500 has now recorded six consecutive days with swings exceeding 6%. Earlier in the present day, the index collapsed to an intraday low of 5,115, shedding 6.14%. It’s now means off these lows, however it’s nonetheless down by roughly 3.5%.
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The flagship index is now down 5 out of the final six buying and selling days. It’s down roughly 14% from its peak in February regardless of the huge rally that occurred on Wednesday.
This Thursday, bears are again within the driver’s seat regardless of the encouraging inflation numbers that have been launched earlier in the present day. Nonetheless, issues in regards to the tariff combat with China stay entrance and heart.
Treasury Secretary Scott Bessent has downplayed the severity of the latest crash, claiming that he didn’t see “something uncommon.”