The Dow just closed 10%, making it the largest single-day point decline since 1987.
The main issue I have with this though is, there is no catalyst in the near-term to reverse things. The selling really just compounds on itself now. Very little of this actually correlate to underlying fundamentals... which is even more worrying.
Meanwhile, the dollar remains surprisingly strong relative to other countries, though, versus Asia basket, we are getting kicked.
Guess we'll just be waiting for ol' J.P. to take the stage next week. The $500M repo is a great starting point, but it's really going to take more than cash infusions to stop the pan(dem)ic.
www.reuters.com/arti...ll-run-idUSKBN20Z0CM
The main issue I have with this though is, there is no catalyst in the near-term to reverse things. The selling really just compounds on itself now. Very little of this actually correlate to underlying fundamentals... which is even more worrying.
Meanwhile, the dollar remains surprisingly strong relative to other countries, though, versus Asia basket, we are getting kicked.
Guess we'll just be waiting for ol' J.P. to take the stage next week. The $500M repo is a great starting point, but it's really going to take more than cash infusions to stop the pan(dem)ic.
www.reuters.com/arti...ll-run-idUSKBN20Z0CM
Pierce Crosby
GM, Americas @ TradingView
GM, Americas @ TradingView
