Technology (XLK) in 2015
Technology (XLK) opened 2015 at $20.64 and closed at $21.42, a +3.78% move for the year. The high of $22.28 was reached on December 4, and the low of $18.85 on August 25.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $20.64 | $19.95 | $20.73 | $19.95 | -3.32% |
| Feb | $20.16 | $21.55 | $21.62 | $20.16 | +6.90% |
| Mar | $21.72 | $20.72 | $21.72 | $20.66 | -4.58% |
| Apr | $20.69 | $21.29 | $21.69 | $20.68 | +2.90% |
| May | $21.55 | $21.68 | $21.89 | $21.06 | +0.63% |
| Jun | $21.75 | $20.7 | $21.75 | $20.68 | -4.81% |
| Jul | $20.84 | $21.29 | $21.83 | $20.4 | +2.16% |
| Aug | $21.17 | $20.11 | $21.39 | $18.85 | -5.01% |
| Sep | $19.47 | $19.75 | $20.52 | $19.36 | +1.44% |
| Oct | $19.76 | $21.83 | $22.03 | $19.76 | +10.45% |
| Nov | $22.02 | $21.98 | $22.17 | $21.18 | -0.18% |
| Dec | $22.17 | $21.42 | $22.28 | $21.08 | -3.43% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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