Despite the best efforts of the straight-line panic buying algos on a Tuesday, it seems flashing red headlines of dreadful escalations in Ukraine (more deaths), from Bloomberg:
- 11 REPORTED DEAD DURING UKRAINIAN OPERATION IN KRAMATORSK: RT
- UKRAINE GOVT: RUSSIAN 45TH AIRBORNE IN SLOVYANSK, KRAMATORSK
...and USDJPY tagging 102 again (of course) were enough to spark the manic idiocy of markets from buy-buy-buy to sell-it-all-Mortimer... So much for yesterday's "see it's all good now" ripfest... The Russell 2000 is back at yesterday's lows and NASDAQ is back under 4000.
However, there is still hope:
- RUSSIAN PM MEDVEDEV SAYS HE HOPES UKRAINE AUTHORITIES HAVE "ENOUGH BRAINS" TO PREVENT ESCALATION OF CONFLICT
If by Ukraine authorities he means the CIA, he is out of luck.