Dow Has Worst Day Ever; VIX Explodes

The VIX ended in the 30s

Josh Selway

Feb 5, 2018 at 4:28 PM

Stocks got eviscerated today, with the Dow down nearly 1,600 points at one point. And while the blue-chip index closed off its session lows, it still logged its biggest one-day point loss ever. The second straight session of heavy selling again centered on fears of rising interest rates, while weakness from the energy sector only added to the risk-off backdrop. In fact, the Dow and S&P 500 both turned negative on the year, with all but two SPX stocks closing in the red today. The VIX, meanwhile, had its biggest one-day surge ever, exploding to its highest close since August 2015.

Continue reading for more on today's market, including:

General Motors stock saw heavy pre-earnings call buying, while options traders also bet on a big breakout from rival Ford.
2 drug stocks that gapped lower today.
Analysts pounced on the negative Wells Fargo news.
Plus, bulls bet on Disney; 3 athleisure stocks to watch; and a new "buy" signal.

In this historic session, the Dow Jones Industrial Average (DJI - 24,345.75) closed down 1,175 points, or 4.6%, with all 30 Dow components closing in the red. In fact, Apple's (AAPL) 2.5% pullback was the smallest of the group. Exxon Mobil (XOM) and Boeing (BA) fared the worst, each losing 5.7%.

The S&P 500 Index (SPX - 2,648.94) fell 113 points, or 4.1%, and the Nasdaq Composite (IXIC - 6,967.53) dropped 273.4 points, or 3.8%.

The CBOE Volatility Index (VIX - 37.32) jumped 20 points, or 115.6%.

Closing Indexes Summary Feb 5

NYSE and Nasdaq Stats Feb 5

5 Items on Our Radar Today

President Donald Trump today rejected a bipartisan Senate immigration bill introduced by Arizona Republican John McCain and Delaware Democrat Chris Coons, calling it a "total waste of time." In a tweet this morning, the president implied the bill did not include strong enough funding for border security. (CNBC)
As its stock trades near record highs, Amazon's advertisements are making noise, too. The company's ad for its voice-activated assistant Alexa earned the top spot in the USA Today's Ad Meter, a ranking of Super Bowl commercials. (USA Today)
Options traders have been bullish on Disney heading into earnings.
3 athleisure stocks to buy and sell.
The high-profile bank stock flashing "buy."

Corporate Earnings Feb 5

Unusual Options Activity Feb 5

Data courtesy of Trade-Alert

Oil Breaks Two-Session Losing Streak

Oil prices also fell today, notching their lowest close in two weeks. March-dated crude was down $1.30, or 2%, at the close to settle at $64.15 per barrel.

Gold closed lower, too, as the dollar strengthened. April gold was down 80 cents at $1,336.50 per ounce by the close.

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