Dow Drops Below 20k, Circuit-Breakers Imminent

After yesterday’s hope-filled day of gains on massive monetary and fiscal largesse, futures traded limit-down overnight and ETFs signaled a 6.5-7% loss in the pre-market but bounced to the futures-limit-down level at the open…

The Dow traded back below 20k…

Nasdaq is modestly outperforming but everything is down hard…

During US trading hours (Cash), these are the levels for the various circuit-breakers to hit:

• Level 1: 7% fall to 2352.14 before 15:25EDT/19:25GMT will prompt a 15-minute pause.

• Level 2: 13% drop to 2200.39 before said time will introduce another 15-minute pause.

• Level 3: 20% decline to 2023.35 within the time will shut the markets

Will we see the first Level 2 trigger today?