FAST FIVE: Dollar Jumps, Stocks Dump As Crude Carnage Continues

Published by on

European banks were ugly as Carige was bailed out.

  With no bond market for the algos to pivot off, stocks dropped, stabilized after the European close, then dumped into the last few minutes – Nasdaq was worst on the day Weakness in stock indices started off driven by Tech but was dragged lower into the close by Oil.

  Stocks were dropped on lower than average volumes (around 20% below avg – though higher than during last week's rally), and liquidity remains terrible.

(and VIX term structure is inverted once again)   Stocks have erased post-Midterms gains.

  AAPL was hit hard on demand headlines from a supplier (LITE), testing down to its 200DMA (AAPL knocked 60 points off the Dow)   Goldman was battered.

Categories: ZH