iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,429 Blog Posts

Surprise: The Shanghai Crashed Again; Global Markets Are Reeling

The Chinese markets careened lower tonight, even after a prominent BofA/Merrill analyst, named Baghdad Bob, said all was well and there was nothing to fear.

It dropped by 6.3%.

China

The NIKKEI wasn’t too sporty either, fleeced for 2.4%.

Naturally, oil is lower by almost 3% and the Russian ruble is getting its brains blown out, now off by 2.4% v the dollar.

Over in Europe, broader indices are lower by 1.5%–providing the three guys in pajamas with the excuse they need to drill U.S. futures lower by 120.

Thank God Janet Yellen and her board of fucking morons will hike rates 16 times, from now until 2018.

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17 comments

  1. it is showtime

    the situation
    a little bigger
    than the FED (YA THINK) you stupid bulls all along 2012 2013 2014 2015 saying everythings fine so petulantly fed-centric you got Shanghai, oil, and fed comin at you. Plus some freaka virus, a ‘vagabond’ problem in Europe, and Isis zombies stepping it up
    your 401K future
    is quite extinct

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  2. tradingnymph

    I am not surprised. lol.

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  3. joyous__ending

    Well at least global money is more likely to flow into America.

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  4. blahblahblah

    they should invest in machines to move markets

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  5. braveflaps

    Goddammit!!

    HAS ANYONE SEEN MY DOG????

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  6. joyous__ending

    I’ve decided that if Trump loses IA and NH it will be a catalyst for a market rally.

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  7. juice

    All this harping on Grandma Yellen is misplaced as Greenspan and Bernanke were the bricklayers for this disaster and they simply slipped out the back door when the thing was about to blow and left Grammy holding the bag and taking the heat. If 1/4 was the pinprick and all it took to bring down global markets, it was ready to come down. Give Granny a break.

    Not very gentlemenly of them, if you ask me.

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  8. probucks

    Just got back to the computer – What sell off & what’s reeling?

    Lol. JK. Crazy reversal though.

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  9. bruce keller

    Now that earnings are in full swing maybe we don’t care if they are cheap? Maybe some of our hedge funds will buy them up on the lows and finally make some money for the year. Copper is back above $2, keeping an eye on that and crude.

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  10. helicopter ben

    3 computers in pajamas for what it’s worth.

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