Worst Day Since the Pandemic π Daily Chart Report
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Todayβs Summary
Thursday, April 3, 2025
Indices: Dow -3.98% | S&P 500 -4.84% | Nasdaq -5.41% | Russell 2000 -6.59%
Sectors: The only positive sector was Consumer Staples, rising +0.58%. Energy lagged, dropping -7.85%.
Commodities: Crude Oil had its worst day in over two years, sliding -6.64% to $66.95 per barrel. Gold dropped -1.41% to $3,122 per oz.
Currencies: The US Dollar Index had its worst day in two years, dropping -1.69% to $101.94.
Crypto: Bitcoin rose +0.74% to $83,132. Ethereum rose +1.21% to $1,816.
Volatility: The Volatility Index surged +39.5% to 30.02.
Interest Rates: The US 10-year Treasury yield dropped to a five-month low of 4.038%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Andrew Thrasher (@AndrewThrasher).
- Today was the worst day for the S&P 500 ($SPX) in nearly five years, with the index sliding -4.8%. $SPX closed near the lows of the day, down -12.7% from its February peak.
- The index rarely drops -4% or more in a single day. Unsurprisingly, these days have historically clustered around times of market stress, such as the bursting of the Dot-Com bubble, the Great Financial Crisis, and Covid.
- Andrew notes that -4% declines don't necessarily signal capitulation. More often, they have occurred in the midst of a destructive downtrend.
The Takeaway: The S&P 500 ($SPX) suffered its first -4% decline since the pandemic today. While -4% declines are rare, they typically aren't a sign of capitulation. More frequently, they tend to cluster in the meat of a downtrend.
Quote of the Day
"The market is a battlefield;
you must be prepared for the fight."
- Bill Dunn (RIP)
Top Links
Post-Election Year Woes Persist - Almanac Trader
Jeff Hirsch compares the current market to other post-election years.
Credit Spreads Don't Lie - Alfonso's Daily Note
Alfonso De Pablos examines what credit spreads suggest for stocks.
Poster Child - Day Hagan Asset Management
Art Huprich highlights the outlook for Bitcoin and what it suggests for risk appetite.
Pulling Global Markets Together with Laurence Balanco, CMT - Fill the Gap
In this podcast, Laurence Balanco talks with Tyler Wood and David Lundgren of the CMT association about his technical process and more.