March 26th 2017
As expected in our last comment, U.S. averages finished the week with losses. For the week, the Dow Jones Industrial Average dropped 1.5 percent to finish at 20,596.72. The blue-chip index recorded its steepest decline since September. The S&P 500 plunged 1.4 percent for the week to close at 2,343.98, its biggest decline since November. The Financials sector suffered a 3.8 percent loss over the week, its largest decline since January 2016. The Nasdaq shed 1.2 percent during the week to end at 5,838.74, its largest since December. Most key S&P sectors ended in negative territory for the week, led by financials. Utilities were the only gainers. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 13.