10 September, 2016

 We had a rare day on Friday where a sea of red engulfed most markets, a synchronized down-move the likes of which we have not seen in some time. Nowhere was the selloff most notable than in the US equity markets, as the Dow plunged some 400 points, breaking weeks of narrow trading. The S&P 500 shed 53, while the tech-heavy NASDAQ declined by a whopping 133 points, or 2.5%. It was the second-largest weekly drop for the Dow this year and the largest for the S&P 500 since February. European and Asian markets will likely follow lower on Monday and we suspect that Mideast markets will also be down this weekend.