US stocks suffered a 'Black Wednesday': Which strategies hold promise?
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The US stock market suffered a panic-driven sell-off on Wednesday, with the $Nasdaq Composite Index(.IXIC.US)$ plunging 3.6% and the $S&P 500 Index(.SPX.US)$ falling 2.3%, both marking the largest decline in one year and a half. Magnificent Seven suffered significant losses, with $Tesla(TSLA.US)$falling by over 12% and $NVIDIA(NVDA.US)$dropping nearly 7%. Even $Russell 2000 Index(.RUT.US)$, which had performed well last week, fell by over 2%. The market was gripped by risk aversion, with the $CBOE Volatility S&P 500 Index(.VIX.US)$ jumping nearly 23%, reaching its highest level in three months.
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