Stocks Suffer Worst Week In 19 Months; Dow Gives Up All "Taper" Gains

Tyler Durden's picture

The deer was back yesterday; but today "it's on..."

 

UPDATE: The S&P futures collapse a further 6 points in the 15 minutes of trading after cah markets closed...

 

 

NOT OFF THE LOWS>>>

Some context for the day: Stocks were slammed lower (TRAN -4.1%, Russell -2.5%, S&P, Dow, NASDAQ -1.8%); Treauries rallied 5bps or so on the day (but was stable during the US day session sell off);  Commodities slipped 0.5% with Gold the lone performer +0.35% today; The USD was unchanged on the day (but the JPY strengthen significantly along with AUD weakness).

 

S&P's worst week in 19 months...

 

Dow Transports worst day since September 2011...

 

Across the board stocks were slayed as dip-buying carry traders were uniquely absent for the second day in a row...

JPY ruled stocks...

 

As Stocks retraced most of the post-Taper gains...

 

VIX smashed almost 30% higher on the day to tage 18%

 

and weekly VIX saw the biggest jump since May 2010...

 

As the VIX term strcuture inverted (risks piling up before the lunar new year and trsut default in china?)

 

 

Gold - now the best performing asset since the Taper - diverged notably from Silver on the week as WTI drooped today but closed notably higher on the week... Gold now at 2-month highs.

 

Credit markets are now at 10-week wides with stocks back to Taper lows...

 

Charts: Bloomberg

Bonus Chart; The Nikkei 225 loses 15,000 for the first time in over 2 months... Abe will not be happy!

 

Bonus Bonus Chart: Well not really a chart but...