23Feb2022 Market Close & Major Financial Headlines: Wall Street Suffered Another Decline, The DOW Closed For The Fourth Time In A Row Down 465 Points, NASDAQ Down Sharply 2.6%, S&P 500 1.8%, Silver Higher At 24.50, Bitcoin Steady At 37700
Headlines:
U.S. Sanctions Will Not Target Russia’s Oil And Gas Exports
Molson Coors logs its first sales growth in a decade as turnaround plan takes hold
Hydrogen generation could become a $1 trillion per year market, Goldman Sachs says
Commodities Soar As Ruble Routed, Tech Wrecked, & S&P Enters Correction
Lead Prosecutors Abruptly Quit Trump Investigation
Market Extra: The next shoe to drop? The 125-year old Dow industrial s are on the brink of correction.
U.S. indices managed to cut their losses yesterday before closing, but today, Wall Street’s major indexes slithered down and closed near session lows. Traders who bought at the opening feel the pain of buying higher and selling low. Markets didn’t remain in the green for long, plunging downward within an hour into the red.
But, alas, there might be light at the end of the tunnel; these uninformed sheeple are hoping it isn’t a train coming their way. Today’s red volume was lighter than usual, signaling many investors are in a wait-and-see stance. Moreover, the trading volume for the past week or so has been somewhat ‘normal,’ not anywhere what one would expect during a full-fledged bear market reversal.
Without a doubt, Wall Street is in correction territory, but the panic sell phase coming from the Sheeple’s hasn’t become a factor of a full-blown market reversal. Although the S&P 500 enters its first correction in two years as the Russia-Ukraine conflict escalates, investors haven’t hit the red panic button yet.
Precious metals usually depict negative market movements, and they haven’t moved much higher in recent weeks. On the other hand, rising oil prices (WTI 91.77) directly responds to Russia’s ability to control certain aspects of the energy distribution flowing into Europe.
As usual, we have included below the headlines and news summaries moving the markets today.