Chat with us, powered by LiveChat
Notice: Markets are extremely volatile and volume is very high. Thank you for your patience with shipping delays.

Free Shipping!

Menu

Should We Be Concerned By The Biggest Market Crash Since March?

Market Crash
Print Friendly, PDF & Email

EDITOR NOTE: Want a quick snapshot of the markets? Here it is. As you’ll see, the Dow is back in the red, FAANGs are f***ked, option buyers switched from calls to panicked puts, yet media pundits are calling it a “breather,” or “a nice pause.” Yields on the 10-year have been falling, and it appears that everything finally caught up to it, as even cryptos and precious metals have declined. So, in light of the big-picture--an economy that will (by policy) be heading toward a higher inflationary environment--this plunge presents a buying opportunity somewhere. “Where” is up to you. But choose carefully.

US equity market crashed most since March today (Nasdaq down 6% at its worst and The Dow down over 1000pts at its nadir)...

The S&P 500's longest streak of intraday all-time-highs since 1998 is now over...

Biggeset sell programs since June...

Market Crash

Source: Bloomberg

The Dow is back in the red YTD and Small Caps are back at one-month lows...

Source: Bloomberg

And VIX exploded to its highest since June...

Newly-minted options gurus suddenly flipped from gorging on calls to panic-buying puts...

Source: Bloomberg

As FANGs were fucked...

Source: Bloomberg

Apple cooked...

Market Crash

AAPL is once again smaller than the entire Russell 2000...

Source: Bloomberg

And Tesla twatted (into a bear market from the highs)...

We suspect this is the scene in more than a few home offices this evening:

But hey, don't worry, CNBC had some words of advice sprinkled in throughout the session:

"...today's pullback is a drop in the bucket"

"...what we've been waiting for - a healthy pause that refreshes"

"...the damage today is really not as bad as it looks"

- Bob Pisani

The Fed's speakers didn't help:

  • 1215ET *BOSTIC: WE SHOULD BE CONCERNED ABOUT THE RISK OF ASSET BUBBLES

  • 1340ET *EVANS: "I MARVEL" AT STOCK MARKET RISE DESPITE UNCERTAINTY

Are they trying to send a signal to the markets?

Credit was weaker but has been signaling an end to the exuberant bounce for over a month...

Market Crash

Source: Bloomberg

It appears bonds were right after all...

Source: Bloomberg

Bonds were bid with 10Y Yields plunging back to 60bps...

Source: Bloomberg

The Dollar managed to hold gains today but was very uninterested in the chaos underway in stocks...

Source: Bloomberg

Cryptos were also dumped today with Bitcoin extending its slide...

Source: Bloomberg

And Ethereum was clubbed back below $400...

Market Crash

Source: Bloomberg

Nothing escaped the selling (apart from bonds of course) as gold was hit (but tried to bounce back)...

And silver was hit harder...

Oil also tanked, but tried to bounce back...

Market Crash

And another high-flyer - Lumber - was chopped...

Source: Bloomberg

And finally, don't say you weren't warned that time was up...

Market Crash

Source: Bloomberg

As Sven Henrich points out:

"September 3rd marked the top in 1929 following a furious rally fueled by wild optimism, excessive retail speculative behavior and markets disconnecting far above the fundamentals of the economy."

More to come?

Market Crash

Source: Bloomberg

Originally posted on ZeroHedge

book-image-bank-failure

GET YOUR FREE

BANK FAILURE SURVIVAL GUIDE

  • This field is for validation purposes and should be left unchanged.

All articles are provided as a third party analysis and do not necessarily reflect the explicit views of GSI Exchange and should not be construed as financial advice.

Precious Metals Data, Currency Data , Precious Metals Automated Product Pricing Powered by nFusion Solutions