Dow Wraps Up Ugly March With Sharp Loss

The Dow turned in its worst quarter of all time

Assistant Editor
Mar 31, 2020 at 4:32 PM
facebook twitter linkedin

The Dow closed out March with a steep loss today, giving back triple-digit midday gains to finish 410 points lower. The blue-chip index locked up steepest quarterly drop in its 124-year history. The S&P and Nasdaq both joined the Dow in the red today, with bank stocks among the notable laggards. All three indexes locked up March with deficits of 10% or more, their worst monthly loss since the 2008 financial crisis.

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

  • This e-commerce developer could soon find footing.
  • DocuSign stock has seen calls dominate its options pits.
  • Plus, patent problems bode grimly for AMRN stock; Visa consumer transactions diminish; and RH stock sunk after an earnings beat.

The Dow Jones Industrial Average (DJI - 21,917.16) finished 410.32 points, or 1.8%, lower for the day. Caterpillar (CAT) topped the charts with a 3.9% win, while American Express (AXP) finished at the bottom with a 5.2% fall. For the month, the Dow lost 13.7. It gave back 23.2% for the quarter.

The S&P 500 Index (SPX - 2,584.59) fell 42.06 points, or 1.6%, while the Nasdaq Composite (IXIC - 7,700.10) lost 74.05 points, or 1%. The S&P 500 logged monthly and quarterly losses of 12.6% and 20.1%, respectively. The Nasdaq shed 10.2%for the the month and 14.2% for the quarter.

The Cboe Volatility Index (VIX - 53.54) shed 3.5 points, or 6.2%. It ended March 33.5% higher, and added 288.5% for the first quarter.

closing summary mar 31

nyse nasdaq mar 31

5 Items on Our Radar Today

  1. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a nearly 4% annual gain in home prices this January. Despite the current pandemic, it seems that home prices will continue to increase at a modest rate across the U.S. (CNBC)
  2. As millions of Americans are laid off and the U.S. faces the likelihood of a full-blown recession, consumers are continuing to lose confidence in the economy.  (MarketWatch)
  3. A patent lawsuit sent AMRN stock spiraling.
  4. Visa stock tanked as consumers struggle to spend.
  5. Why RH stock sunk despite earnings beat.

earnings mar 31

unusual options mar 31

Oil Logs Worst Quarter Ever

Oil prices rose today, just one day after sinking to 18-year lows. Black gold got a boost after President Donald Trump and Russian President Vladimir Putin agreed to talks aimed at reconciling spiraling energy markets. May-dated crude futures rose 39 cents, or 1.7%, to settle at $20.48 per barrel. For the month, oil shed 54.2%, its largest one-month decline since 2008. For the quarter, oil shed 66.5%, its worst percentage quarterly drop on record.

Gold dropped today in the wake of better-than-expected consumer confidence data. Gold for June delivery fell $46.60, or 2.8%, to settle at $1,596.70 per ounce. For the month and quarter though, gold gained 1.9% and 4.8%, respectively. 


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial


Special Offers from Schaeffer's Trading Partners