Major Indexes Settle Into Steep Quarterly Losses

The Dow dropped triple digits on Thursday, shedding 550 points as investors wrapped up the month of March and the first quarter of 2022. The Nasdaq and S&P 500 also dropped lower today. Tech took a hit after several analysts expressed concern over the long-term health of the PC market, while blue chips were dragged by index member Walgreens Boots Alliance's (WBA) post-earnings plummet. All three indexes managed to take home notable monthly gains but suffered steep losses for the quarter. This marks the S&P 500's first quarterly deficit since 2020.

The Dow Jones Average (DJI - 34,678.35) lost 550.5 points or 1.6% for the day. All 30 index members fell, Caterpillar (CAT) seeing the slimmest loss, dropping 0.1%, while Walgreens Boots Alliance (WBA) saw the deepest loss with a 5.7% drop. The Dow added 2.3% for the month and dropped 4.6% for the quarter. 

The S&P 500 Index (SPX - 4,530.41) shed 72 points for the day or 1.6%. It added 3.6% for the month and lost nearly 5% for the quarter. Meanwhile, the Nasdaq Composite (IXIC - 14,220.52) fell 221.8 points or 1.5% in today's session. It added 3.5% in March and lost 9.1% for the quarter. 

Lastly, the Cboe Market Volatility Index (VIX - 20.56) added 1.2 points or 6.4% for the day. It shed 31.8% for the month, and added 19.4% for the quarter. 

Closing Indexes Summary March 31

NYSE and Nasdaq Stats March 31

Earnings March 31

Unusual Options Activity March 31


Oil plummeted to its lowest level since March 16 on Thursday, after the U.S. authorized the release of 1 million barrels of oil per day for the next six months -- marking the biggest release from the nation's Strategic Petroleum Reserve in history. Oil dated for May delivery lost $7.54 or 7%, to settle at $100.28 per barrel, though prices rose 4.8% for the month and 33% for the quarter.

Gold, on the other hand, continued to rise as the equities market sank even lower and the U.S. dollar softened. The now most active, June-dated gold contract rose $15 or 0.8%, to close at $1,954 per ounce. Prices posted a 2.8% rise in March, and a 6.9% rise for the first quarter.

Disclaimer: Schaeffer's Investment Research ("SIR" or "we" or "us") is not registered as an investment adviser. SIR relies upon the "publishers' ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.