The Dow sharted in its pantaloons to the tune of -1,032 points today (-4.15%), wiping out 2018’s gains and entering 10% “correction” territory along with the S&P 500. To be precise:
10% Correction Levels:
- Dow 23954 – Dow closed at 23860 is in correction
- S&P 2585 – S&P closed at 2581 in correction
- Nasdaq 6755 – Nasdaq closed at 6777, not in correction
2018’s gonna be YUUUUUUGE!–uh oh…
Meanwhile, Treasury yield spiked after a weak auction and the implications of a budget deal implying more supply is on the way. As stocks were force-choked lower by darth maul, bonds ended up catching a tiny bid as credit spreads snapped wider and rate volatility spiked.
Portfolio rapist XIV cratered shortly after the open:
The greed? Where did it go? Is it still good?
Since the collapse of XIV, markets have also seen huge equity outflows from US ETFs:
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