US equity indexes closed powerfully lower, sp -85pts (2.9%) at 2840. Nasdaq comp' -3.0%. The two leaders - Trans/R2K, settled -3.0% and -2.8% respectively.
US equities opened significantly lower, pressured via the US 10yr/2yr inverting, as the mainstream were again worried about an eventual recession.
Trump chimed in...
... and shortly later...
The afternoon saw the Trump continue...
... and it remains a historic irony, if not tragedy, that the US President cites Payne, rather than Schiff.
The video quality is lousy, but see t+5mins..
Payne's big pick for 2008...
... Washington Mutual, which effectively imploded, with the remains picked up by JPM. I hope that at least the financial historians of the 22nd or 23rd century will see things for how they really were.
Volatility naturally spiked, with the VIX printing 22.71, and settling +26.1% at 22.10. S/t outlook favours choppy upside into opex to the sp'2890/2900s. More broadly, cooling to at least 2800, if not the 2730/20s.
Extra charts in AH (usually around 7pm EDT) @
Goodnight from London
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