January 27, 2021

Equities sunk today after the Fed released its policy statement for the month stating that economic conditions continue to improve even after December’s job report showed a sharp decline in economic growth.  So, after unprecedented intervention from the Fed over the past year, any statement slightly hinting that things are improving and subsequently implying the Fed may scale back its aid is enough to tank stocks.  The Dow is down over 500 points while the Nasdaq was hit hardest, dropping nearly 2.7% today. Gold and silver are trading at $1,840 and $25.25 respectively, dropping modestly but not to the extent of stocks.