Market Update (9/08)

Markets started the shortened holiday trading week sharply lower. From the open, indexes traded lower led by tech stocks as profit takers took recent gains off the table. Amazon (AMZN), Apple (AAPL), and Facebook (FB) led the markets lower for the third straight trading session, with each down between 4%-6% at the close.

Stocks accelerated losses in the afternoon session to close near session lows. The $DJI closed lower by 2.25% to 27,500.89. The NASDAQ Composite is lower to 10,847.69 down 2.25%. The S&P 500 closed lower by 2.78% to close at 3331.84. The Russell 2000 also lost ground to close lower by 1.81% to 1507.45.

The InvestorsPrism family of indexes closed mixed. The PRISM Emerging Gene Therapy index closed higher by 0.81%. The PRISM Emerging MedCannabis index moved higher by 1.5%. The PRISM Emerging MedDevices index fell by 0.4%. InspireMD (NSPR) had a strong day closing higher by 9%.

Other PRISM indexes closed mixed for the day. The PRISM Emerging MedDiagnostics index grew by 1.5%. The PRISM Emerging New Economy index closed lower by 2.6%, and the PRISM Emerging Pet Care & AgriBiz index gained 0.5% in value. AquaBounty Technologies (AQB) was a shining star for the index on Tuesday to close higher by 22%. Tracking biotechs, the PRISM Emerging Vaccines & Cell Therapy index closed higher by 0.4%.

The top commodities closed mixed at the 4:00pm ET mark. Crude Oil is sharply lower, down 7% to $36.87 per barrel, Gold is catching a bid to trade higher to $1938.60 per oz., and Silver also higher to $26.86 per oz.. Bitcoin ($BTC) is again flirting with the $10,000 support level with the virtual currency trading at $10,018.04 as of 4pm est.

*data as of market close at 4pm est on 9/08/20

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Market Update (9/08)

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