Trump Turmoil Sparks Biggest Market Crash In 9 Months

Tyler Durden's picture

It's been a while since we used this one...


This happened...


And appears to be the straw that broke the complacency camel's back....


Quite a day...

  • S&P 500 biggest drop since Sept 2016 (broke below 50-dma)
  • Small Caps biggest drop since Brexit June 2016 (broke below 50-, 100-dma)
  • Nasdaq biggest drop since Brexit June 2016
  • Dow Industrials biggest drop since Sept 2016 (broke below 50-dma)
  • Dow Transports biggest drop since June 2016 (broke below 50-, 100-dma, and near 200-dma) - now negative year-to-date

And across asset-classes...

  • VIX biggest jump since Brexit June 2016 (smashed through 50-, 100- and 200-dma) above 15

  • Short-Term VIX jumped by the most on record (up 115% to the highest since the election)


Every measure of vol was up today... 

  • 30Y US Treasury Fut biggest gain since June 2016
  • USD Index down 6th day in a row to lowest since trump election
  • USDJPY's biggest drop since July 2016 (broke below 50- and 100-dma) to 110 handle

Safe-haven buying gold and bonds as the dollar was dumped along with banks...

And we actually heard someone say "This is nonsense, the fundamentals are solid, Trump doesn't matter"... Well if it wasn't Trump hope holding stocks up - what was it?


All major US equity indices were red today...NOT OFF THE LOWS!!


"Sell In May" after all...


Trannies are back in the red year-to-date and Small Caps tested unch...


VIX soared over 15 - filling the gap from the French Election...


Financials back in the red year-to-date...


Led by a collapse in The Big Four...


AAPL was hammered... worst day since April 2016


Treasury yields collapse most since the first trading day of the year... Yields crashed 8-10bps today pushing them all down for the month...


30Y Yield crashed back below 3.00%, back to pre-French election levels...


The Dollar Index was clubbed again - 6th down day in a row to pre-Trump election levels...


Since the election, Yen is down the most (5%) but Cable (up 4.5%) and Euro (up 2.3%) have dragged the dollar red...


Gold was heavily bid back above its key technical resistance levels...


The trumpflation trades are all breaking...


And June rate hike odds are tumbling...


Gold regains the lead year-to-date as banks go red...


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SheepRevolution's picture

#Error 404 3:30 PM turn around not found#

Hammer823's picture

We rallied over 3,000 points since election night.  A 10% correction at this point would only be a drop of 2,000 points or so.  We still net 1,000 points since November and still sit near all time highs.  The answer to any correction is to front run it with a HUGE rally out of thin air.  Then the "correction" doesn't end up hurting at all.  Toady's 300 point drop is all for show.
spastic_colon's picture

look at 1987......from the end of 1986 to oct 1987 S&P market rallied from 240 to 380.....the 30% correction didnt then either.

Haus-Targaryen's picture

To get back down to Feb 09 lows, we'd need to shed some 13,000 points. 

But we were less leveraged back then ... 

Angelo Misterioso's picture

Haus - you're using big numbers - nothing like the 1,000 and 2,000 pts people like to discuss - i think you ultimately win the prize - once Amazon goes from 187 P/E to something like 60 P/E (still ridiculously high...) then we'll see who is wearing swim trunks... 

AltRight Girl's picture

What no turmoil for clinton yet?

Trump will have to start draining the Swamp even if it will be just to save his ass and the shekels of those kikesters that backed him.

Too Many Similarities Between Seth Rich Murder and “Clinton Body Count” Victims

Mr 9x19's picture

but but but, this time it is different !!

NidStyles's picture

All the pts in the world won't change that fiat is always worthless in the end.

DFCtomm's picture

Eventually we all die, eventually the sun burns out and consumes the earth as it's dying, eventually everything ends, even the universe, so why are you commenting here instead of eating a bullet?

Four chan's picture

trump rally since nov biggist in stock market history.

vato poco's picture

am not really sure the official 'impeachment jitters' story is anything but bullshit. don't recall the markets tanking and/or showing a heck of a lot of jitters when Bubba *actually* got his scummy ass *actually* impeached.

better guess would be leaks from the Fed of a rate hike

John Law Lives's picture

***   SPAM ALERT   ***

Do not click on AltRight Girl's link.

AltRight Girl = SPAMMING dildo

SomethingSomethingDarkSide's picture

SSD laughed all the way to the fucking bank today.

People on ZH bashing Gold, Silver, and Miners?

Fuck you.

HominyTwin's picture

Oh come on! I have large positions in miners too. Was not that big of an up day, bro. The up day in miners was not even comparable to the gap ups in the FANGs the last few weeks, and they have had many, many such days lately.


When are the CB dickheads gonna stop with their gold slams? When they do, you'll be rolling in it. Might be a long time.

CJgipper's picture

I'm goign way out on a limb here and saying the answer is never.  The CB's will NEVER stop slamming gold.  THEY HAVE A DIGITAL PRINTING PRESS.

Zero_Ledge's picture

"There's gonna be a gunfight like you never saw before."

Only way CBs stop printing is when people end the fed.

HominyTwin's picture

Technically they can never go broke. That is true. But it still looks bad when their balance sheets look like swiss cheese. People start to get nervous, so there must be some restraint on their part. Anyways, that's how I'm betting.

mc225's picture

the only way to really slam gold is to make more 'gold paper derivatives' or somesuch, right? more and more, certificates 'representing real gold'.


otherwise, if you just kept 'making more dollars', gold would go up wouldn't it?

SomethingSomethingDarkSide's picture

10-4, just enjoy a good Told Ya So every once in a while.

Jah feel?

silverserfer's picture

only the pro's bash it while they buy it ;)

MillionDollarButter's picture

I would have rather been in UVXY today than AGQ...

peopledontwanttruth's picture

The billionaires and trillionaires are laughing at everybody who is trying to figure this out and where to hide their money

mayhem_korner's picture

People thought I was nuts when I drafted Mike Pence on my fantasy team.  O wait...

Fundies's picture

Nailed it. 300 is nothing. Start giving us 1000 point drops in a session, and we have our next crisis ladies and gents. We have an assclown in charge of the USA and he can manipulate the markets up or down on a whim.

timetraveler's picture

Hello, the year 2000 called, they want their dot com bubble back.

r3phl0x's picture

I can only hope that AAPL's 40%+ drop happens before Buffett exits. But I kinda doubt it. They always tell him first.

spastic_colon's picture

absolutely proving that equity markets and mark-to-market are a hoax

Hammer823's picture

Recipe for a perpetually rising stock market = 3,000 point rally on hope and speculation - 300 point drop on reality.

Frontrunning the inevitable uncertainty of a Trump presidency with a huge rally has truned out to be very convenient.

Rigged to perfection.

meta-trader's picture

she was a waitress in a cocktail bar now she owns a jet...

Greenie's picture

Metatrader is a  1 week wonder. Please go suck a bag of dicks elsewhere.

cossack55's picture

FASB 157 has been suspended for about 8 years now.  Waana talk GAAP?

idontcare's picture

The Dollar was being sold off before today's latest round of political bullshit.

Seasmoke's picture

Not that long. You used Willy Wonka less than a week ago !!! Gene Wilder must be spinning in his grave.

spastic_colon's picture

havent seen the deer for awhile..............

lester1's picture



Comey caught wiping his nose on White House curtains..





medium giraffe's picture

The slightest hint of trouble and the banks all take a shit.  I'm sure it's nothing.....

ZeroLounger's picture

We've seen this movie before.  All time highs by 3:00 pm Friday. BTFDYFI/s

Countrybunkererd's picture

Loose lips sink more things than expected...

Nice Try Lao Che's picture

What ever happened to the Kushner & Mnuchin (everything is AWESOME) 'Strong Joobuck' policy? I thot they called the shots on counterfeitted paper handiwipes...

Clock Crasher's picture

Regarding the move in Gold today. This was about dollar weakness not metals strength given silver did shit same for the miners. Also sucks that we now have a wide open gap to be filled in gold. Sooner we fill of the better. Hopefully tomorrow and not this Xmas.

Also love the new market recap graphics. Well done.

. . . _ _ _ . . .'s picture

Ag went up same as $ went down until 4pm, now it's climbing.

Au outperformed, 2.5x the $ drop.

scoutshonor's picture

Heard on the street: "wait....wut?"

Nice Try Lao Che's picture

Heard on the street: "Graip[drink]....wut?"

ZeroLounger's picture

Yep.  Mass media info-idiots pulling out all the stops to tie this to Trump somehow. "Trump worries rattle Wall Street".  EVERYTHING is Trump's fault. Trump this, Trump that....just repeat 'Impeach' over and over, and let the sheople hear it ad infinitum.  (Even though, don't you have to have done something WRONG to get impeached? Just sayin....)

Rainman's picture

" Sell in May and go away " ....sing it !!