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Major US Indexes Decline Over 4% for the Week

US stocks declined over 4% this week, with the Russell 2000 and NASDAQ Composite leading the sell-off. During Friday's trading session, the CBOE Volatility Index rose to a 15-month high, while the Dow swung 279.71 points, dipping below the 10,000-mark, before erasing all of its losses to close up 125 points for the day.

What follows is a summary of this week's statistics on the markets.

Weekly Gains:

  • The Dow ended down -426.77 or -4.02% for the week, its worst weekly percent drop since May 7 when it fell -5.7%
  • The S&P 500 ended down -47.99 or -4.23% for the week, its worst weekly percent drop since May 7 when it fell -6.4%
  • The NASDAQ Composite ended down -117.81 or -5.02% for the week, its worst weekly percent drop since May 7 when it fell -7.95%

Correction Territory:

  • On Thursday, the Dow entered correction territory as it declined -376.4 points or -3.6% to settle at 10068.01, off more than 10% from its 2010 closing high of 11,205.03 set on 4/26, and its worst daily percent drop since March 5, 2009
  • The S&P entered correction territory as it declined -43.46 points or -3.9% to settle at 1071.59, off more than 11% from its 2010 closing high of 1,217.28 set on April 23, and its worst daily percent drop since April 20, 2009
  • The NASDAQ entered correction territory as it declined -94.36 points or -4.11% to settle at 2204.01, off more than 12% from its 2010 closing high of 2,530.15 set on April 23, and its worst daily percent drop since February 17, 2009

Markets Month-to-Date

  • The Dow is currently tracking for its worst monthly percent decline since February 2009 when it fell -11.7%
  • The S&P is currently tracking for its worst monthly percent decline since February 2009 when it fell -10.99%
  • The NASDAQ is currently tracking for its worst monthly percent decline since November 2008 when it fell -10.77%
  • On Friday, the CBOE Volatility Index (VIX) traded at an intraday high of 48.2, its highest level since March 10, 2009 to end up 8.86 points or 28.36% for the week, and currently up 81.86% month-to-date
  • The VIX is currently tracking for its largest monthly percent gain since September 2008 when it gained 90.75% and its best May gain ever



S&P 500

Sector Impact:
Ten out of ten sectors closed the week in negative territory, led to the downside by industrial and energy stocks.

  • Flowserve was the biggest percent loser in the industrial sector, down 11% for the week
  • Industrial stocks were hurt by Massey Energy, down 16% this week
  • Year-to-date, seven out of ten sectors are trading in negative territory, led to the downside by telecom stocks with a loss of 10%, and to the upside by consumer discretionary companies, with a gain of 6%

More Weekly Stats Here

Commodity Impact:Crude oil for July delivery fell for the third week in a row, settling at $70.04 per barrel on Friday, down $5.39 this week, or 7.15%. Crude oil has declined 18.7% in the past three weeks.


Currencies Impact: The US dollar Index halted four weeks of consecutive gains to close for the week down 0.81%, after Germany's parliament approved a bill to allow Berlin to contribute to a 750 billion euro bailout package.

Commodity Impact:Crude oil for July delivery fell for the third week in a row, settling at $70.04 per barrel on Friday, down $5.39 this week, or 7.15%. Crude oil has declined 18.7% in the past three weeks.


Global Index Performance:

Commodity Impact:Crude oil for July delivery fell for the third week in a row, settling at $70.04 per barrel on Friday, down $5.39 this week, or 7.15%. Crude oil has declined 18.7% in the past three weeks.


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