At the time of writing it was up 4.7%, trading at $4,250.
Traders snapped up bearish contracts even as dozens of short-term options expired, with the price of one put surging as much as 7,757%.KGI Securities’ trader Kevin Lee, who has been a local stocks trader for a decade, said clients started to panic as the morning wore on.“There were non-stop orders coming in,” Lee said.
New York timeThe Nasdaq 100 fell 2.4%, falling for the third straight day, the longest losing streak since May 5The Dow Jones Industrial Average fell 1.2%, falling for the third straight day, the longest losing streak since March 4The Stoxx Europe 600 rose 0.3%The MSCI World index fell 1.4%, more than any closing loss since March 4CurrenciesThe Bloomberg Dollar Spot Index rose 0.6%, more than any closing gain since April 30The euro slipped 0.6%, more than any closing loss since April 30The British pound slipped 0.5%, more than any closing loss since April 30The Japanese yen slipped 0.8%, more than any closing loss since March 4BondsThe yield on 10-year Treasuries advanced six basis points, more than any closing gain since March 18Germany’s 10-year yield advanced four basis points, climbing for the sixth straight day, the longest winning streak since Feb.
When a new investment trend emerges, you may wonder what all the fuss is about.