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...




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...

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kliguy38's picture

Its the cracks...........they're getting bigger and there's more of them.........not enough chewing gum

freewolf7's picture

Is this what walking towards the exits looks like?

AmericasCicero's picture

nobody panic...NOBODY PANIC!!!!

NoDebt's picture

ZH missed their prediction on the market falling apart by 10 days.  What?  The Tylers can't call it any closer than that??  I need PRECISION, dammit!  PRECISION!  This ain't horseshoes or hand grenades.

Please try harder in the future.

mjcOH1's picture

Where's the money honey when you need her....

aVileRat's picture

Comon, 4 posters suggested this since Monday. What do you want, a tweet ?

Margin call monday will either confirm the trend, or see a massive twist.




Wait What's picture

<---- what Yellen's face looks like right now. "pour me a scotch George, it's gonna be a long weekend."

SheepDog-One's picture

Not enough fingers to stick in all the dykes!


redpill's picture

And why are they always named Janet?  

max2205's picture

Is it too early to start saying sell the fucking rips?

UncleBubba's picture

typical first post on this site every time the market goes down over 2% in two days...  But, as everyone should've learned by now...  BTFD

SheepDog-One's picture

Hey knock yourself out pal, pile in all your retirement and kids college funds as much as you can....personally I wouldn't touch this clownshow with a 20 foot pole.

Overfed's picture

Aww...hell, Bernyellen and Co. will just POMO the fuck out of the "market" next week and everything will be right as rain.

Say What Again's picture

I think there are some new interpretations for BTFD


Beat the Fu$&^% Dear

Beat the Fu$&^% Duck  (If you watch TV)



UncleBubba's picture

funny video (in the context of the article), and a nice chart overlay.  I guess we just have to wait and see.

DeadFred's picture

Dang, I was planning on making a snarky comment about how many cents the S&P closed off the lows to mock the TV cheerleaders but I don't get to.

Slave's picture

Cancel your cable. Free your mind.

PacOps's picture

1978, knock at the door. 11 yr old stepdaughter answers it. Cable guy offering to run cable service to the house - no charge. She told him we did not own a TV. She said his jaw hit the floor in disbelief. ... He finally left shaking his head. (haven't owned one since '66 - we were on Compuserve in 78).

dirtscratcher's picture

I did that about five years ago. Amazing how much better my life has been in a variety of ways. 


-NaN-'s picture

Going on 7 years. Lucidity is wonderful.

Future Jim's picture

That sounds great, but I have started encountering people who think they are independent minded and ouside-the-box because they don't have cable, and yet, they believe EXACTLY what cable is promoting. Of course, you can't convince them of that because they don't watch cable. It seems like some kind of final stage in the long running propaganda campaign by the self proclaimed elites.

yrad's picture

Where the FUCK is Jon Corzine!?!?!?

MsCreant's picture

Maybe he has been vaporized? 

SAT 800's picture

we can only hope; dear lady; and that it wasn't painless.

NoDebt's picture

Still floating quietly around in the bowl.  Some turds just won't go down no matter how many times you flush.

One And Only's picture

Of the lows, victory for the bulls.

Harry Dong's picture

out a popcorn/...

Harry Dong's picture

was done earlier (and rightly). Better than the Hindenburg Omen.


stant's picture

we should name the dear heisenberg, and call it the hesinberg omen

HedgeAccordingly's picture

But i thought taper was not gonna affect the market..

Papasmurf's picture

They didn't say which market.

SgtShaftoe's picture

next will be the death squads.  Gentlemen, prepare to defend yourselves:

Harry Dong's picture

gentlemen mostly got shanked by NAFTA. It's up to the ladies to protect their men now....

Cursive's picture

About another 250 days like this and maybe we can get back to reality.

Dr. Engali's picture

I turned on CNBC to see the close and I could take a whole two minutes of it. I don't know how people stomach that mind numbing garbage.

SheepDog-One's picture

It's a form of hypnotic psychosis.

Papasmurf's picture

Where's Maria when you need her?  She could have ask a talking head "Where would you be putting new money to work in these markets?"

Yen Cross's picture

  I agree doc. Did you see that stupid douche in the closing panel that was calling for a 3.75% T-10 by years end. She was recommending buying consumer staples stocks.

  A 3.75% T-10 would blowout Corps. that are levered up in cheap money and destroy the R/E market. I about threw a brick through my TV screen. I can't even make to the 2 minute mark.

css1971's picture

No, it aint. Tyler, you're just over tired and over impatient for the games to end.

It's on when there's a 2% down day followed by a 3% down day followed by a 4% down day. Then it's ON.

LetsDoThisAlready's picture

According to this graph, it may just be on like donkey kong, gotta start somewhere, and this isn't just rhyming, it's the same pattern....