U.S. Stocks Close: NVIDIA Continues Record Highs, Jingdong Jumps 16 Percent
U.S. stocks closed Wednesday with the Dow initially closing up 70 points or 0.2%, the S&P 500 up 0.5% and the Nasdaq up 0.58%. Tesla (TSLA.O) closed down 2%, Apple (AAPL.O) ) fell 0.6%, and Nvidia (NVDA.O) rose 3% to continue its record high. New York Community Bank (NYCB.N) swung as much as 77% during the session before eventually closing up 8%. The Nasdaq China Golden Dragon Index closed up nearly 2%, with Jingdong (JD.O), which announced a big buyback, jumping 16%, Beili (BILI.O) up 6%, and Alibaba (BABA.N) up more than 2%.
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Goldman Sachs Volatility Panic Index surged to 9.57, approaching its maximum value, with the largest single-day increase ranking third in history, and the combined two-day volatility setting a new record. Historical data shows that after this index has exceeded the 9.5 threshold 15 times, the S&P 500 has seen an average three-month gain of 4.6% with a success rate of 80%. However, Goldman Sachs traders warn that forced liquidations have not yet fully cleared, and the market is still searching for a bottom, but opportunities on the other side are becoming increasingly difficult to ignore.
