Stocks Reverse Course, Midday, Post Huge Losses

Just for the record, there was no news, no catalyst, no event which caused stocks to end largely to the downside on Tuesday, after Monday's gains were attributed to the proposition of trade talks between China and the United States, an obvious straw man argument for equity appreciation.

Stocks were sailing right along until just after 1:00 pm EDT, but then proceeded to lose value for the remainder of the session. The NASDAQ, which was already in the red, posted a massive loss of 211 points, a decline of nearly three percent on the day.

Traders must have been caught wrong-footed, as Monday's massive spike seemed to indicate that all was well. Apparently, that was not the case, sending the Dow back down near the lows registered on Friday.

With markets closed on Friday, there remain just two trading days to the month, which almost certainly mark two straight months of losses, a rarity over the past nine years of bullishness. Notably, Monday's rise was on very slim volume compared to the number of sell orders seen on Friday and other recent down days.

Only the NASDAQ holds gains for the year and the first quarter. Fund statements are going to show minus signs for many investors, an unusual sight which may spur even more selling.

Interest rates on treasuries fell across the curve, with emphasis on the long end. The 10-year-note closed out with a 2.78% yield.

Dow Jones Industrial Average March Scorecard:

Date	Close	Gain/Loss	Cum. G/L
3/1/18	24,608.98	-420.22	-420.22
3/2/18	24,538.06	-70.92	-491.14
3/5/18	24,874.76	+336.70	-154.44
3/6/18	24,884.12	+9.36	-145.08
3/7/18	24,801.36	-82.76	-227.84
3/8/18	24,895.21	+93.85	-133.99
3/9/18	25,335.74	+440.53	+306.54
3/12/18	25,178.61	-157.13	+149.41
3/13/18	25,007.03,	-171.58	-22.17
3/14/18	24,758.12	-248.91	-271.08
3/15/18	24,873.66	+115.54	-155.54
3/16/18	24,946.51	+72.85	-82.69
3/19/18	24,610.91	-335.60	-418.29
3/20/18	24,727.27	+116.36	-301.93
3/21/18	24,682.31	-44.96	-346.89
3/22/18	23,957.89	-724.42	-1071.31
3/23/18	23,533.20	-424.69	-1496.00
3/26/18	24,202.60	+669.40	-826.60
3/27/18	23,857.71	-344.89	-1171.49

At the Close, Tuesday, March 27, 2018:
Dow Jones Industrial Average: 23,857.71, -344.89 (-1.43%)
NASDAQ: 7,008.81, -211.74 (-2.93%)
S&P 500: 2,612.62, -45.93 (-1.73%)
NYSE Composite: 12,302.54, -130.61 (-1.05%)