Loading ...Looks like London has done their job. SM is in crash mode; I could see it drop 10% by this time next Friday. I wonder if it will matter to the Fed? I don’t think the SM is even close to bottoming and will end up testing the Covid lows under $20K for the DOW.
All the usual suspects. USD ripping, 10 yr up 5 bips. Oil getting crushed 3% and threatening to go below 80
$1650 looks like it will fall. I don’t watch a lot of the other commodities but I’d assume they’ve been falling as well? I know copper is down over 3% today.
Here’s what I don’t understand. In 2007, housing dropped first, and the rates were causing blow ups and defaults all around the world. Are the big banks that much stronger that they can afford the wreckage? What happens when foreclosures get going in earnest? This much I know, Blackrock has $40 Billion
I’m just throwing this out there for shits and giggles.
Otherwise, this looks to be a very ugly and depressing day. We’re used to it. We’ve spent about 80% of the time dropping in the last 20 years.