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On an ugly day for markets, here’s the S&P 500 level investors need to watch closely, says this trader

·4 min read
On an ugly day for markets, here’s the S&P 500 level investors need to watch closely, says this trader
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  • ^GSPC

It’s exactly what investors didn’t want to hear as we close in on two years since the pandemic first reared its ugly head in China. A team at Saxo Bank advises traders to “tread with extreme care, given that near term volatility risks are extreme on the unfortunate timing, particularly giving the sudden shift in focus that this news brings relative to recent themes and current market positioning.” The one mercy for Friday is that it’s a shorter session for Wall Street.