Pre-Market Trading Chaos After Trump Tweets On “Very Important News” From FDA

With futures stuck limit-down, our only indication of trading sentiment is the pre-market-open ETFs and they are volatile this morning.

Shortly after Trump tweeted that he has “very important news” from The FDA…

I will be having a news conference today to discuss very important news from the FDA concerning the Chinese Virus!

— Donald J. Trump (@realDonaldTrump) March 18, 2020

SPY – the S&P 500 ETF – spiked, dumped, and bounced back to where it was, only to start fading again…

It seems even good news is no longer enough – the market is demanding its free, unencumbered, helicopter money or else!