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March madness. Stocks rebounded yesterday in response to kind words from the Fed. Traders felt like they were looking in a mirror as the Dow Jones Industrial Average proved that it could make record single-day point gains as well as record single-day point losses.

March is live. Stocks sold off again last Friday on further virus fears but managed to close well off intraday lows in response to a Fed statement. Selling intensified through the day and Chairman Powell reminded us that the Fed is still working.

Pain management. Stocks were hit hard in yesterday’s session as Coronavirus fears sharpened. All of the major equity indices are in correction territory and bond yields continue to make historic lows.

Blood drawn. Stocks traded lower yesterday giving up early-session gains as traders continue to fear the spread of COVID-19. Housing in the US remains strong but that was not enough to revive stock buying.

Gravity. Stocks were hit for a second session yesterday as the CDC warned about the virus’ “inevitable” spread. Investors piled into safe asset bonds pushing yields to record lows.

Tight spot. Stocks tumbled yesterday as investors learned that Covid-19 is not just a China thing. More and more companies are reporting concern about the virus' effects on performance.