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European Stocks Plunge Most In 16 Months As Draghi Disappoints
Broad European stocks plunged into the red for 2014 today as a rattled Mario Draghi disappointed a hungry-for-more risk market. Bloomberg's BE500 index dropped its most since June 2013 to 2-month lows led by weakness in Italian banks. UK stocks underperformed (-3.6%) but Spain, Italy, and Portugal all tumbled 2-3%. The selling pressure interestingly stayed in stocks as bond spreads rose only modestly and EURUSD roundtripped to only a small rise from pre-ECB. Notably, US equities are cratering as they are so used to the pre-EU-close pump that did not happen.
European Stocks are back in the red year-to-date with the biggest drop in 16 months...
Broad-based decline...
and used to its daily EU close ramp, US stopcks are dumping...
Charts: Bloomberg
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And we wonder why...
the USSA is launching simulateous color revolutions in Russia and China, and attacking Syria.... obviously more resources need to be stolen to keep propping up the Ponzi.
EU member bank insolvencies in 3, 2, 1... We really need to start a death pool around here for this shit.
Shows everyone how much free money is moving the markets...the free air in the balloon is getting let out it seems.....
I guess Yellen just did an "old Yeller" in her senior nappies.
Time to unleash the next false flag and ramp up the printing. No EU Euro carry trade for now. Thank god for Ebola.
Only about 8 Billion in (official) POMO left.
One Billion today (watch for end of the day ramp).
That wont cover GoPros drop..need more to save today
Now positive for the markets.
Buy The Fucking Fuck.
This might be what we've waited for. As Peter said a few years ago, there's no way to stop money from moving out of an asset class once the ball gets rolling. The fed was easing all the way down during the dot com and housing crashes, and it didn't stop the crash because it doesn't change the mentality of investors. People only borrow larger sums of money at lower interest if they think asset prices are rising.
Really, the only way to stop this crash is for central banks to buy stock while dropping the interest rates into negative territory.
or have the oracle buy stocks and disseminate that info to all approved news sources.
NEW YORK (CNNMoney)
Warren Buffett's most famous quote is "be fearful when others are greedy and greedy when others are fearful." He's still living by that motto.The legendary investor said Thursday that he bought stocks during Wednesday's 236 point drop in the Dow Jones Industrial Average.
"I like buying it as it goes down, and the more it goes down, the more I like to buy," the 84 year old Buffett during an interview with CNBC. Though he wouldn't specify which companies he bought, he claimed they were "names you'd recognize."
http://money.cnn.com/2014/10/02/investing/warren-buffett-buying-the-stock-dip/index.html?iid=mkt_SF_news
OT
Scotland's independence referendum
Oct 02, 2014, 03:54 PM GMT (14m)Scottish police say they are investigating potential voter fraud after man claims to have found bag of 'hundreds' of independence referendum voting ballots in Glasgow trash bin - @jimpoco Read more on newsweek.com
Get your shit together Tyler...
UK is FTSE 100
That was down 1.7% today not 3.6%
FTSE MIB - you guessed it - That is ITALY
Down 3.6% today
Now that the 1% have been delivered more wealth than thought possible by the central bankers and grandma is fully invested to get a little yield, it's time to pull the plug and steal what little wealth they have left. Good thing we have Russian and ebola to blame everything on.
The 1% need to be in cash to really profit.Looks like they are stuck in this Potemkin market.
Do Ireland and Germany have negative nominal rates? If the ECB is literally giving away money, and still can't get inflation then things are getting out of hand. In addition at that point isn't it time to just start handing out money? I mean if you are literally giving money to bankers by arbitrage, you should really give it to the poor as opposed to rich bankers.
...and this may have marked the bottom again?
fake
EU markets were 'draghed' down to unusual declines of CAC futures minus 2.8% and DAX down 2.15%. Investor's view of governments and federal banks failing to backstop equity markets may finally be coming into clearer focus:
http://www.investing.com/indices/us-30-futures-advanced-chart
If markets are selling off across the board, who is buying?
Who is/are the marginal buyers?
Central Banks or their proxies/stooges?
I think they've hit the market version of the 'Peter Principle' and the turd can't float any higher. I'm quite sure that Draghi&co are trying to pump it up....somehow.
and RUT is currently up over 1% - living large in full retard