The "Year-End Scare" of the US Stock Market
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Overnight, starting around 7 AM Eastern Time, all stocks plummeted for no apparent reason in the absence of any significant negative news—bond yields, stocks, cryptocurrencies, and gold all fell sharply. Then, after the European market closed, all the declining stocks suddenly surged. In the last few minutes, selling pressure re-emerged, with the NASDAQ and S&P experiencing the largest declines... This marked the first time since the volatility spike in August that the S&P 500 index has fallen consecutively by 1%
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