The market was extremely choppy as investors tried to digest disappointing housing data against the backdrop of developments in Japan. Many investors opted to to the sidelines until the picture of the nuclear threat in Japan becomes clearer. However, Asian markets ended higher, with the Shanghai Composite index rising 1.2% and Hong Kong's Hang Seng index edging up 0.1%. New home construction fell 22.5% in February, more than economists were expecting, while the number of permits for future housing construction fell 8.2% to all all-time low. The QQQQ implied volatility jumped to 27.
Thursday, March 17, 2011
Ended sharply lower
The market was extremely choppy as investors tried to digest disappointing housing data against the backdrop of developments in Japan. Many investors opted to to the sidelines until the picture of the nuclear threat in Japan becomes clearer. However, Asian markets ended higher, with the Shanghai Composite index rising 1.2% and Hong Kong's Hang Seng index edging up 0.1%. New home construction fell 22.5% in February, more than economists were expecting, while the number of permits for future housing construction fell 8.2% to all all-time low. The QQQQ implied volatility jumped to 27.
