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Morning Market Stir: Stocks Close at Lows and Weakness Persists

Equities can't catch a bid as the selling continues on Tuesday

Wednesday, December 17 – Alan Knuckman reports from the floor of the CME Group in Chicago where equities seemed to be recovering on Tuesday before a late session sell-off that took stocks to new lows. The S&P closed at 1,971.5, nearly 5% lower from the recent highs. The Dow ended at 17,007, and the Nasdaq fell to 4,164. The dollar dropped to 88,30 with the Euro pushing to 124.95. The bond market benefited from the risk-off atmosphere, closing at 145'23. Crude finished slightly positive at 55.93, with gold falling off at 1,194. This morning, equity futures are up slightly, with the correlation to the dollar remaining and the Euro heading lower in lockstep. Bonds are pulling back, with crude down and gold attempting to hold 1,200.

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