Dow Transports Crash; All US Equity Indices Red For 2014

Tyler Durden's picture

After escalating higher and higher in the last few days as the rest of the market slipped further into the red for 2014, the Dow Transports has collapsed 3.25% at this morning's open - its biggest drop in 9 months. This, along with the plunge in the NASDAQ and Russell has dragged every major US equity index into the red once again for 2014... The S&P 500 cash index is now the most below its 50-day moving average in almost 4 months. VIX has spiked to 15.4% - its highest since pre-Taper as JPY carry unwinds drag US equities lower once again... Credit markets have no retraced all post-Taper gains (and stocks are rapidly catching down).

 

 

Of course, the driver of the weakness is JPY carry unwinds...

 

Credit has led the way and now eradicated all gains post-Taper...

 

S&P 500 drops back below its 50DMA...

 

Charts:Bloomberg