And that happened…
China tumbled overnight…
US Futures show the action best… the sudden panic bid at the US cash open…
The machines managed to get Small Caps back to unch before it all dropped again..
Dow tested down to its 50/100DMA and rebounded intraday…
Dow fell back into the red year-to-date…
Global Banks tumbled today after a brief bounce…
FANG stocks plunged at the open – then the PPT sent them back to the highs…
While stocks fell today, they still have a long way to go catch down to the bond market’s reality post-Trade-Wars…
Treasuries were bid on the trade war, sold off during the day then were bid into the close
And the yield curve collapsed to new cycle lows…
The Dollar spiked to its highest since July 4th…
Offshore Yuan crashed to its lowest close in 12 months…
Turkey was a bloodbath today with Lira and stocks battered…
PMs limped lower but copper and crude were crushed…
Commodities were clubbed like a baby seal today – crashing most since 2014 to a new record low…
Copper crashed…
Crude collapsed…
The Global growth scare is upon us…
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