US equity close: 25 basis points isn’t going to cut it

This looks like a double top in the S&P 500 and now you have to ask if we will go down and test the August low or consolidate here. The chipmakers certainly aren’t sending a great signal with NVDA down to $102.

On the day:

• S&P 500 -1.7%
• Nasdaq Comp -2.5%
• DJIA -1.0%
• Russell 2000 -1.7%
• Toronto TSX Comp -0.8%

On the week:

• S&P 500 -4.2%
• Nasdaq Comp -5.8%
• DJIA -2.9%
• Russell 2000 -5.4%
• Toronto TSX Comp -2.3%

This article was written by Adam Button at www.forexlive.com.