STOCKS TUMBLE: Here’s what you need to know

Photo: Matt Cardy/ Getty Images.

The 15-day streak of narrow moves in the S&P 500 came to an end on Thursday with the benchmark index closing down 1.45%. It was the biggest one-day drop since May 17.

The index had settled within 0.30% of its previous day’s close for 15 straight sessions.

The CBOE’s Volatility Index, known as the VIX, jumped 45% to 16.04 which is its highest level since the election.

US markets fell as tensions with North Korea grew. The S&P 500 dropped 1.41%, the Dow slipped 0.91%, and the Nasdaq fell 2.13%.

First up, the scoreboard:

Top Stories

  1. The market’s reaction to North Korea this week is historically unusual. Recent incendiary comments from President Donald Trump and North Korea’s army have spooked investors, but stocks haven’t fallen too severely.
  2. GUNDLACH: Gold’s chart has ‘one of the most bullish’ patterns around. The “cup and handle” pattern could send gold to $US1,460 an ounce.
  3. Blue Apron warns of a big loss in the 2nd half of the year, shares crater 15%. In the first earnings call for the young company, the CEO dropped a bombshell that sent stocks slipping.
  4. Trump’s immigration plans would wipe out 1.3 million jobs in a decade, according to his alma mater. Wharton doesn’t think the president’s plan is as good as he says it is.

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