By Markus Heitkoetter
￼It was another wild day on Wall Street.
SO WILD, the New York Stock Exchange actually shut down! The reason behind the shutdown is still unknown. But the exchange was closed for well over 3 hours and all working orders were cancelled.
Although the NYSE was back online at 3:10pm ET, it was just too much for stocks to handle. And in the end the major U.S indices finished near lows of the day.
While the NYSE shutdown made headlines, traders also had their eyes on today’s FOMC Minutes release.
Today’s minutes really just reiterated the same thing the Fed has been saying. To sum it up:
The Fed still plans on raising interest rates this year.
Concerns over Greece & China are being considered.
The Fed expects the Jobs Rate to be on target.
Will the NYSE shutdown is still a bit of a mystery, China is purposely halting trading on stocks to prevent continued selling. The Shanghai Composite dropped 5.9%, and 50% of their major stocks were halted because of volatility.
With today’s close of 2046.69, the S&P closed below its 200-day moving average for the first time since October. The S&P lost 35 points on the day and was down 1.67%. After today’s drop the S&P is back in negative territory for the year.
The DOW had a 261 loss. With a close of 17515.42 the DOW experienced a 1.47% decline.
But it was the NASDAQ had the worst drop. With a 1.75% loss on the day the NASDAQ closed at lows not seen since early April.
While the world keeps an eye on China and a possible Grexit, U.S. traders have weekly Unemployment Claims to consider tomorrow at 8:30am ET.
Apple Inc (AAPL) had its biggest 1-day drop since April with a 2.48% decline today.
A PowerX Method Sell Signal was identified on June 5th. AAPL pushed through an ADR Profit Target at $124.45 with yesterday’s decline.