European indices are down 3%+ and U.S futs are off by 320, setting up for a most horrendous trading day.
French stocks are the hardest hit, with the CAC off by more than 4%, thanks to banks getting smashed–particularly Socgen–which is off by 10%.
Deutsche Bank is sharply lower and all Italian banks. Essentially, the oil crisis has shifted to the banks.
That’s called contagion.
On the upside is gold, higher by 2% and bonds.
This is getting repetitive. Thank heavens for our robust labor market. Let’s see how much longer that will last with wealth being destroyed at the current rate.
Oh, crude is trading in the $26s now, off by 3% or so. Who’s counting anymore?
Worst of all is the unraveling of the yen carry. Look at the spike in the yen.
Tremendous pain out there.
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why not get into ultra-short ETF ?
Not my game
Ever play craps. Every once and a while when its going bad you have to be the ahole playing the the dont come.
TZA all the way
So much for the rally- I bought VOO – the S & P 500 at day end too! Ouch…just when u think it can’t get worse – it does! Oil to $18?
*yawn markets in turmoil
consensus https://www.youtube.com/watch?v=t4WP3bODmfo
long way down from here,……..
perhaps a more dire employment number (which is BS anyway), may cue the need to re-evaluate options,…..
but at this point, what else can be done, other than leaving rates,
or possibly roar QE, which i think will be interpreted as negative anyway ?
ideas, options ?
The Fed has done fucked it all up again.
Time to take granny Yellen’s medicine.