Investors have seen worse days, but they’ve also seen better ones. Stocks moved lower today amidst concerns over the Fed Symposium and the political situation in Afghanistan.Â
Investors have anxiously anticipated the Jackson Hole Fed Symposium for several weeks. Throughout the pandemic, the Fed printed trillions of dollars to help shore up businesses, the economy, and markets. The symposium will show investors what they can expect from America’s central bank in the months ahead.
However, investors did not anticipate the severity of the political situation in Afghanistan. Blasts in Kabul today killed a dozen U.S. troops and at least 60 Afghan civilians, sending a political shockwave through the markets.
Despite today’s attacks, President Joe Biden reiterated his commitment to a steadfast evacuation of the country. The President indicated that the U.S. would “respond with force and precision” to threats from ISIS-K. You can follow a liveblog of the situation here.
This perfect storm of political variables made today a rainy one for investors. đŠī¸ The Cboe Volatility Index (VIX) soared 12.2%. Here’s a look at the five minute chart for today:
