FAST FIVE: Markets Scream 'Panic' To Powell As 2022's Tech-Wreck Is Worst In Over 30 Years

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…Retail Favorite stocks have been routed.

“Between the TICK/TRIN readings during the morning flush and VIX inversions, it is possible that fear, panic has finally arrived.” The problem – of course – is, as we noted earlier, the hope that this is a resumption of the Q4 2018 playbook – i.e.

The S&P 500 closed below its 200DMA.

Source: Bloomberg Bank stocks had an ugly week with GS and JPM now significantly lower YTD.

Source: Bloomberg 2Y Yields dropped back below 1.00%.

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