Stocks Take Deep Dive on Trump Recession Possibility; NASDAQ Goes Deeper Into Correction: Dow Industrials Confirm Primary Trend Reversal

Suffice it to say that Monday's market action was not a good way to start the week. However, judging by market activity the past few weeks, it was readily predictable and maybe even inevitable.

The bad news is that it appears there's more to come. The good news is that there's likely to be a bounce-back rally of some magnitude.

On Sunday's WEEKEND WRAP, the question was whether or not the Dow Industrials would confirm the drop on the Dow Transports essential to the Dow Theory's Primary Trend Reversal. The answer was a loud and clear, resounding yes.

Not only did the Dow close below the most recent low (41,938.45, January 10), but the intra-day low of 41,612.92, was down with earlier closing lows from October 31 (41,763.46) and November 4, 2024 (41,749.60), essentially a double bottom. Late-day tape-painting once again saved the Dow from an ignominious finish, tacking on just less than 300 points in the final 48 minutes.

The NASDAQ, quite naturally, as it remains the most overpriced of the majors, took the brunt of the deal, losing four percent on the day. While the 727.90-point loss on the NASDAQ was the third-highest ever, in percentage terms, it didn't even make the top 25.

The S&P's loss of 155.64 comes in as the ninth-highest ever, but the 2.70 percentage loss was not even close to the top 40. Incidentally, the top 20 largest-point losses on both the NASDAQ and S&P are all from 2020 forward, attesting to overvaluation in extremis.

In any case, Monday was not "The Big One."

Year-to-date, the NASDAQ is down 9.54% and already in correction (-10% or more). The S&P is off 4.54% and the Dow a mere 1.49%.

Overall, the economic outlook is rather gloomy, the result of dealing with reality as opposed to the fantasy of the past 16 years (since the sub-prime bottom in March, 2009). Money Daily has been carping about valuation for the longest time. Others are beginning to chime in, especially analysts from the major brokerages, who are busy revising their forecasts for 2025. Sorry, fellas, too little, too late. People are beginning to lose faith in the almighty power of Wall Street.

Elsewhere, bitcoin dipped below $77,000, a four-month low and a distinctive repudiation of all the ecstasy over bitcoin ETFs, and the latest, the Crypto Sovereign Wealth Fund established last Thursday by a Trump Executive Order and kicked off with a ceremony at the White House Friday. It was evident to all but the cultist "hodlers" that the U.S. Treasury has no plans to be buying any bitcoin or other crypto any time soon.

As usual, gold and silver got kicked lower, but both have already rallied back to levels seen last week. Gold: $2,912; silver: $32.67.

WTI Crude oil bottomed at $65.52, but is rallying Tuesday morning by about a buck.

Futures were higher earlier, but have flattened out and turned negative, which probably means the bounce-back rally may not happen today, or at worst, will begin to take shape sometime after 10:00 or 11:00 am ET.

Bears are at the door and they appear quite hungry.

At the Close, Monday, March 10, 2025:
Dow: 41,911.71, -890.01 (-2.08%)
NASDAQ: 17,468.32, -727.90 (-4.00%)
S&P 500: 5,614.56, -155.64 (-2.70%)
NYSE Composite: 19,202.38, -370.69 (-1.89%)

WEEKEND WRAP: Gold, Silver Rebound; Bitcoin Ponzi Begins to Break Down After White House Disappoints; Stocks Suffering

Stocks suffered their worst performance of the year last week and the trauma is unlikely to abate as concerns over tariffs proposed and imposed by President Trump have rattled the investor class. Some tariffs have already been imposed, more to come April 2nd, when reciprocal tariffs have been promised.

It's not only tariffs worrying the market. Valuation is high on the list of issues affecting stock prices. Stocks were on a tear from November, 2023, to late last year and into January, when the S&P hit an all-time high.

Stocks have backed off considerably, with the NASDAQ dipping into correction (-10%) twice during the week.

The price of oil continues to slide. Gold and silver rallied.

Stocks

The week was pretty rough for equity holders. All of the major indices have fallen below their respective 50-day moving averages, except the NASDAQ, which closed the last two sessions of the week below its 200-day moving average.

While the broadly-measured NYSE Composite remains green for the year, up 2.49%, along with the Dow (+0.61%), the S&P is down 1.89% year-to-date, the NASDAQ, -5.77%. Dow Transports are down 1.80% for 2025.

The Dow Jones Transportation Average has closed below its 200-day moving average for two weeks straight (10 sessions) and is clearly into correction territory, down 12.1%, from 17754.38 late November to a closing price of 15610.42 Friday. Dow Theorists contend that the Industrials must confirm the downside move in order to indicate a change in the primary trend.

Dropping from 45,014.04 December 4th to 42,801.72 at Friday's close is a 4.91% dip, the Dow is signaling that it very well may not find a bottom soon. Intra-day drops have been closer to 42,500. Any sustained downside should be sufficient to satisfy the primary trend confirmation requirement. That's a wait-and-see proposition, though it's becoming somewhat obvious that many traders are not waiting for another shoe to drop, so to speak.

A few stragglers are still reporting earnings next week:

Monday: (before open) NetPower (NPWR), Telos (TLS), Biontech (BNTX); (after close) Vail Resorts (MTN), Oracle (ORCL)

Tuesday: (before open) Fuel Cell Energy (FCEL), Viking Cruise Lines (VIK), Ciena (CIEN), Dick's Sporting Goods (DKS), Kohl's (KSS); (after close) Groupon (GRPN), StitchFix (SFIX)

Wednesday: (before open) iRobot (IRBT), Ondas (ONDS); (after close) Vrown Castle (CCI), American Eagle Outfitters (AEG), Adobe (ADBE)

Thursday: (before open) Dollar General (DG); (after close) DocuSign (DOCU), Ulta Beauty (ULTA), Semtech (SMTC)

Friday: (before open) Li Auto (LI).

February CPI is released Wednesday, PPI Thursday, both before the open (8:30 am EDT)

Treasury Yield Curve Rates

Date	1 Mo	1.5 mo	2 Mo	3 Mo	4 Mo	6 Mo	1 Yr
01/31/2025	4.37	N/A	4.37	4.31	4.33	4.28	4.17
02/07/2025	4.37	N/A	4.38	4.35	4.37	4.30	4.25
02/14/2025	4.37	N/A	4.38	4.34	4.35	4.32	4.23
02/21/2025	4.36	N/A	4.38	4.32	4.34	4.30	4.15
02/28/2025	4.38	4.37	4.38	4.32	4.32	4.25	4.08
03/07/2025	4.38	4.36	4.33	4.34	4.29	4.29	4.05

Date	2 Yr	3 Yr	5 Yr	7 Yr	10 Yr	20 Yr	30 Yr
01/31/2025	4.22	4.27	4.36	4.47	4.58	4.88	4.83
02/07/2025	4.29	4.31	4.34	4.42	4.49	4.75	4.69
02/14/2025	4.26	4.26	4.33	4.41	4.47	4.75	4.69
02/21/2025	4.19	4.19	4.26	4.35	4.42	4.69	4.67
02/28/2025	3.99	3.99	4.03	4.14	4.24	4.55	4.51
03/07/2025	3.99	4.01	4.09	4.21	4.32	4.66	4.62

Rates didn't change much at the short end. Longer-dated maturities sold off, as the 10-year yield gained 0.08% and the 30-year added 0.09%. Spreads widened, with 2s-10s increasing from +25 to +33, and full spectrum out to +24 from +13. The fact that stocks and bonds both sold off during the week suggests a strong preference for cash, either in money markets or short-term bills.

Nothing to get excited about, though the market may be saying that inflation isn't as big a worry as the media and some financial analysts have been suggesting.

Spreads:

2s-10s
9/15/2023: -69
9/22/2023: -66
9/29/2023: -44
10/06/2023: -30
10/13/2023: -41
10/20/2023: -14
10/27/2023: -15
11/03/2023: -26
11/10/2023: -43
11/17/2023: -44
11/24/2023: -45
12/01/2023: -34
12/08/2023: -48
12/15/2023: -53
12/22/2023: -41
12/29/2023: -35
1/5/2024: -35
1/12/2024: -18
1/19/2024: -24
1/26/2024: -19
2/2/2024: -33
2/9: -31
2/16: -34
2/23: -41
3/1: -35
3/8: -39
3/15: -41
3/22: -37
3/28: -39
4/5: -34
4/12: -38
4/19: -35
4/26: -29
5/3: -31
5/10: -37
5/17: -39
5/24: -47
5/31: -38
6/7: -44
6/14: -47
6/21: -45
6/28: -35
7/5: -32
7/12: -27
7/19: -24
7/26: -16
8/2: -08
8/9: -11
8/16: -17
8/23: -09
8/30: 00
9/6: +06
9/13: +09
9/20: +18
9/27: +20
10/4: +5
10/11: +13
10/18: +13
10/25: +14
11/1: +16
11/8: +5
11/15: +12
11/22: +4
11/29: +5
12/6: +5
12/13: +15
12/20: +22
12/27: +31
1/3: +32
1/10: +37
1/17: +34
1/24: +36
1/31: +36
2/7: +20
2/14: +21
2/21: +23
2/28: +25
3/7: +33

Full Spectrum (30-days - 30-years)
9/15/2023: -109
9/22/2023: -99
9/29/2023: -82
10/06/2023: -64
10/13/2023: -82
10/20/2023: -47
10/27/2023: -54
11/03/2023: -76
11/10/2023: -80
11/17/2023: -93
11/24/2023: -95
12/01/2023: -105
12/08/2023: -123
12/15/2023: -154
12/22/2023: -149
12/29/2023: -157
1/5/2024: -133
1/12/2024: -135
1/19/2024: -118
1/26/2024: -116
2/2/2024: -127
2/9: -117
2/16: -103
2/23: -112
3/1: -121
3/8: -125
3/15: -109
3/22: -112
3/28: -115
4/5: -93
4/12: -87
4/19: -77
4/26: -70
5/3: -85
5/10: -87
5/17: -94
5/24: -99
5/31: -83
6/7: -92
6/14: -113
6/21: -103
6/28: -96
7/5: -101
7/12: -108
7/19: -103
7/26: -104
8/2: -143
8/9: -131
8/16: -138
8/23: -141
8/30: -121
9/6: -125
9/13: -117
9/20: -80
9/27: -80
10/4: -75
10/11: -58
10/18: -54
10/25: -38
11/1: -18
11/8: -23
11/15: -10
11/22: -12
11/29: -40
12/6: -23
12/13: +18
12/20: +29
12/27: +38
1/3: +38
1/10: +54
1/17: +41
1/24: +40
1/31: +36
2/7: +32
2/14: +32
2/21: +31
2/28: +13
3/7: +24

Oil/Gas

The fall in the price of WTI crude oil has now reached seven straight weeks on Friday closes. It's dropped from $77.37 at the New York close on January 17, to $74.60 on January 24, to $73.81 on January 31, to $71.06 on February 7, $70.56 on February 14, $70.25 on February 21, $69.95 on the 28th, and finally, to $67.05 on the New York close this Friday. Seven consecutive weeks of falling prices by a cumulative 12 percent and a -43.6% from the June 3, 2022 high of $118.87 (thanks, Joe!) constitutes a definitive signal that lower prices are here to stay.

Gasbuddy.com is reporting the national average for a gallon of unleaded regular gas at the pump remained steady at $3.06. The price of gas nationwide should continue falling as long as crude prices continue to drop. There's a lag time of anywhere from three to six weeks, as previous deliveries at higher prices are wound down.

California remains on top, though down a another eight cents from last week, at $4.67.

Pennsylvania fell five cents, to $3.26, the Keystone State remaining the longtime price leader in the Northeast. Vermont ($3.14) has taken second place over New York, at $3.11, followed by Maine ($3.05). Connecticut ($3.02) and Massachusetts ($2.98) saw small price drops. Maryland is back down to $2.92. New Jersey is at $2.95.

Illinois was down a penny, to $3.17. Ohio ($2.79) and Indiana ($2.86) were up slightly, but well below recent readings.

Mississippi ($2.58) is the lowest in the country, better than Louisiana ($2.62), Tennessee ($2.64) and Kentucky ($2.66), and Alabama ($2.68). South Carolina and Oklahoma are both at $2.69, followed by North Carolina and Arkansas at $2.72. Georgia ($2.88) and Florida ($3.07) complete the low-cost SouthEast region. Kansas ($2.79) is the lowest in the Midwest. Missouri ($2.85), Iowa ($2.95), and Nebraska ($2.98) were all higher this week.

Sub-$3.00 gas can now be found in four more states than last week. At least 33 U.S. states have prices under $3.00.

The West continues to suffer the highest prices in the country. Arizona ($3.37) was down three cents. Oregon dropped a mere one cent, at $3.71, while Nevada dropped six, also down to $3.71. Washington fell three cents to $4.09, joining California in the tiny club of mainland states at $4.00 or higher. Utah ($2.98) was down, rejoining the sub-$3.00 group, but Idaho ($3.14) was up one cent.

Bitcoin

This week: $83,414.10
Last week: $94,335.26
2 weeks ago: $95,900.56
6 months ago: $59,123.20
One year ago: $63,043.77
Five years ago: $8,902.84

Bitcoin has not been over $100,00 since February 4. Last Sunday (3/2), bitcoin was boosted by nearly $10,000 on Sunday morning to over $94,000, on word of the White House "Crypto Summit" which took place Friday (3/7). During the week, the price of bitcoin came down, then back up, but, starting around 3:00 pm Friday, right after the White House disappointed all but the noblest "hodlers", the price has been heading straight down, from $90,469 to its current level just above $83,000. Talk about "buy the rumor, sell the news." This was a textbook case.

As Money Daily has expressed confidently in the past, bitcoin is a con which will eventually become worthless.

Precious Metals

Gold:Silver Ratio: 89.64; last week: 91.23

Per COMEX continuous contracts:

Gold price 2/9: $2,886.10
Gold price 2/16: $2,893.70
Gold price 2/23: $2,949.60
Gold price 3/2: $2,867.30
Gold price 3/9: $2,917.70

Silver price 2/9: $32.19
Silver price 2/16: $32.65
Silver price 2/23: $32.83
Silver price 3/2: $31.43
Silver price 3/9: $32.55

Gold and silver both rebounded nicely this week. Gold remains the store of value by which all other things "should" be measured. Silver, thanks to over 150 years of de-monetization (from the Crime of 1873 to the present) has been relegated to being a poor step-sister, though it it still considered a monetary metal in most of the world and will eventually return to a realistic ratio with gold, though possibly not in the lifetimes of anybody alive today. That's just the reality of the fractional reserve fiat money regime under which we all suffer. Still, it's been a solid investment the past three to five years and will never be worthless, which is more than can be said of stocks and crypto.

Here are the most recent prices for common one ounce gold and silver items sold on eBay (numismatics excluded, free shipping):

Item/Price	Low	High	Average	Median
1 oz silver coin:	36.00	49.95	40.92	39.00
1 oz silver bar:	36.75	49.00	41.67	40.26
1 oz gold coin:	2,971.55	3,152.90	3,063.04	3,052.67
1 oz gold bar:	2,939.00	3,097.90	3,026.93	3,039.98

The Single Ounce Silver Market Price Benchmark (SOSMPB) was slightly lower on the week, falling to $40.46, a decline of 44 cents from the March 2nd price of $40.90 per troy ounce.

WEEKEND WRAP

Considering the speed at which President Trump has acted to right what's wrong with America and the world, expect more disruptions for at least through the midterm elections, which are still 20 months in the future (November 2026). Short, and maybe even longer term, stocks don't appear to be the place to be.

Choose wisely.

At the Close, Friday, March 7, 2025:
Dow: 42,801.72, +222.64 (+0.52%)
NASDAQ: 18,196.22, +126.96 (+0.70%)
S&P 500: 5,770.20, +31.68 (+0.55%)
NYSE Composite: 19,573.06, +66.72 (+0.34%)

For the Week:
Dow: -1039.19 (-2.37%)
NASDAQ: -651.06 (-3.45%)
S&P 500: -183.30 (-3.10%)
NYSE Composite: -455.13 (-2.27%)
Dow Transports: -376.07 (2.35%)

February Non-farm Payrolls Add 151,000; Stocks Aiming for Worst Week of Year Amidst Trump Tariff Trauma

Thursday was another rough day for equity investors, the third of four this week, leaving the major averages looking at the worst weekly loss of the year.

Through Thursday's close, the Dow was down 1,261 points, or 2.88%. The NASDAQ ended Thursday with a week-to-date loss of 778 points (4.13%), yesterday edging into correction territory, down 10.43% from its all-time closing high of 20,173.89 on December 16. On the week, the S&P is lower by 216 points (3.63%).

Anxiety over a slew of issues including downsizing government, Ukraine, the Middle East, unemployment, the future of AI, tariffs, and the general economy have caused investors to seek safety in fixed income or stocks that are less exposed to shocks like utilities and some of the less-volatile value stocks on the Dow.

When the BLS released February Non-farm Payroll figures an hour before the open on Friday, stock futures had been relatively flat. Upon the announcement of 151,000 jobs added in February and the unemployment rate stable at 4.1%, futures bounced higher in kneejerk fashion, as they normally would, though the blip to the upside was very short-lived and quickly reversed course.

The BLS survey for February has to be taken with an ample dose of skepticism. Showing federal government employment falling by a mere 10,000 over the course of the month fails to take into account the more than 75,000 federal workers who took buyouts and will be paid through September. It also seems to have under-reported the number of layoffs generally in the D.C. metro area as DOGE has furloughed many more than 10,000 employees.

Additionally, the BLS report runs counter to Wednesday's ADP Private Payrolls figure of 77,000 jobs in February, which cited trade and transportation, health care and education, and information showing job losses. The BLS points to health care, financial activities, transportation and warehousing, and social assistance as sectors showing job gains. Obviously, both surveys cannot be correct and the BLS has a history of being wrong.

No matter what Wall Street thinks of the jobs data, it appears to have become a back-burner issue for now. The economy, for what it's worth, seems to be limping along just fine through the turmoil of President Trump's fist 50 days in office (Tuesday, March 11), despite the obvious pressure on stocks.

The highly-touted (and severely overrated) BLS monthly jobs data isn't likely to move the needle much this time around. If anything, it appears to show the employment sector in fair shape, despite the obvious fractures in and around the nation's capital.

This jobs number is likely comparable to a McDonald's hamburger: unsatisfying, tasteless, and soon forgotten.

a half hour before the open, WTI crude oil has bounced off lows to just above $67/barrel. Gold and silver are steady, at $2,920 and $32.55, respectively.

At the Close, Thursday, March 6, 2025:
Dow: 42,579.08, -427.51 (-0.99%)
NASDAQ: 18,069.26, -483.48 (-2.61%)
S&P 500: 5,738.52, -104.11 (-1.78%)
NYSE Composite: 19,506.34, -248.23 (-1.26%)

Stock Futures Pointing Lower After Wednesday Snapback Rally; Oil Continues Slide; Recession Fears Growing.

Stocks staged an impressive rally Wednesday, bouncing back from two straight sessions to the downside to start the week. However, an hour prior to the opening bell Thursday, stock futures are sending ominous signals, with Dow futures down 450 points, NASDAQ futures off 350, and S&P futures off by 75 points.

Challenger, Gray & Christmas reported 172,017 job cuts in February, the highest total for February since 2009. The firm, which produces monthly layoff figures every month just prior to the BLS' Non-farm Payroll announcement, saw nearly 62,000 layoffs or firings from government and another 32,000 at retail establishments. DOGE, the federal government's agency headed by Elon Musk tasked with elimination of waste, fraud, and abuse, is credited with the vast majority of the cuts.

Initial claims for unemployment fall in the most recent week, as reported Thursday morning, to 221,000, seasonally adjusted.

Wednesday's snapback rally may have been more of a buy-the-dip moment on what appeared to some to be oversold conditions. The general tone of the market seemed to point in the opposite direction, as stocks have struggled to hold gains since the start of the year, especially after President Trump's inauguration, January 20.

With the February NFP looking more and more like it may come in as a negative number on Friday, investors seem to be scurrying for cover. ADP's 77,000 job gains for the month were for private entities. Friday's NFP will include government layoffs and firings, which could be huge.

As the opening bell approaches, gold and silver have backed down a bit. Gold is trending around $2,910, while silver is holding steady above $32.50. WTI crude oil remains moribund, hitting a low of $65.37 Wednesday before bouncing back somewhat to just above $66/barrel.

Thursday's trade may be as volatile as the first two days of the week. There remains simply too much uncertainty for investors to make bold trades.

At the Close, Wednesday, March 5, 2024:
Dow: 43,006.59, +485.60 (+1.14%)
NASDAQ: 18,552.73, +267.57 (+1.46%)
S&P 500: 5,842.63, +64.48 (+1.12%)
NYSE Composite: 19,754.57, +259.02 (+1.33%)

Trump Tariffs Turn Markets Sideways and Lower; President Bashes Democrats in Joint Address; Oil Prices Crashing

President Trump put his promised tariffs in place on Tuesday, affecting Canada, Mexico, and China (20%, up from 10%) and chaos ensued.

Stocks initially sold off, then, as the day wore on and various reporting had Ukraine wanting to complete the mining deal that was scuttled on Friday and Commerce Secretary Howard Lutnick implying that Canada, Mexico, and Trump were willing to compromise on the 25% tariffs and reciprocation. Stocks headed to the upside.

In the final half hour, there was simply too great a supply of sellers. The NASDAQ sold off violently along with the S&P and the Dow. The experience was surreal and third-worldly. Between Trump, news leaks, and the algorithms that make 80-90% of Wall Street's trades, there was little certainty about anything.

The NASDAQ briefly entered correction ground, down more than 10% from highs made in November, 2024. From the lows to the highs, NASDAQ traversed 600 points through the day and, along with the S&P, has finished in the red seven of the last nine sessions, the Dow, five of the last eight.

Gains for the year have vanished, with the Dow holding up the best, down just 0.05%, while the S&P is off 1.76%, and the NASDAQ, 5.31%.

Banks and financials, particularly the largest ones - Bank of America (BAC), JP Morgan (JPM), Goldman Sachs (GS) and Citigroup (C) - were hardest hit, falling between four and six percent by the close. Even credit card issuers Discover (DFS) and Capital One (COF) were down 6.01% and 5.75% respectively, the pair in the midst of a $45 merger that's been approved by shareholders, though approval from the Federal Reserve and the Office of the Comptroller of the Currency have yet to be issued.

The Dow Jones Transportation Average is already in correction, down more than 12% from November highs and is trading below its 200-day moving average. Tariffs, especially those concerning the countries of North America, would likely prove to be damaging to many in the transportation sector.

Tuesday night, President Trump took a victory lap in a nationally-televised address to a joint session of congress where he enumerated his administration's accomplishments, acknowledged the work of his newly-appointed cabinet and singled out select Americans as prime exemplars of his self-defined "Golden Age." Pointing out how the Democrats continue to oppose him and show zero support for the changes he is making was a nice touch. He also made clear that Joe Biden was the worst-ever American President.

Notably, the President did not mention any backing off on the tariffs, but actually pointed out more severe penalties toward other countries would be put into effect on April 2nd. He mentioned a note from Ukraine's President Zelensky indicating that the mining deal may be back on the table, though it was still uncertain and unsigned.

Private employers added 77,000 jobs in February according to ADP's monthly private sector jobs report, released Wednesday morning. According to their survey, hiring slowed to the smallest level of gains since July, 2024, with trade and transportation, health care and education, and information showing job losses. Small business employment also fell.

Since the ADP figures do not include government, with DOGE job eliminations running somewhere in the neighborhood of 70-120,000, not including the 75,000 who accepted buyouts and will be paid through September, Friday's Non-Farm payroll data from the BLS could very easily be a negative number and certainly not the last. That may cast a further pallor over the stock market and have other diverse effects on the economy. It's a wait-and-see scenario now on Wall Street.

Crude oil continued to price lower. WTI crude dropped to $67.81 by the close Tuesday the lowest level since the decline began more than six weeks ago (January 15, $78.71). It's down further Wednesday morning, to around $66.72.

Briefly, Ross Stores (ROST) forecast annual sales and profit below estimates on weaker demand in their fourth quarter release after the close Tuesday. Nordstrom posted better-than-expected earnings ahead of going private. Shares are modestly higher pre-market. Foot Locker (FL) is trading two percent higher after beating on EPS but missing on the revenue side. Abercrombie & Fitch (ANF) is trading 9-10% lower after issuing weak guidance Wednesday morning.

Futures are close to flat-lining a half hour until the open. Gold is holding up at around $2,910 and silver pricing at $32.38 before the bell.

Still a lot of uncertainty to go around and stock markets generally don't like being in the dark.

At the Close, Tuesday, February 4, 2025:
Dow: 42,520.99, -670.25 (-1.55%)
NASDAQ: 18,285.16, -65.03 (-0.35%)
S&P 500: 5,778.15, -71.57 (-1.22%)
NYSE Composite: 19,495.55, -327.93 (-1.65%)