Tech Wreck 2.0? FANG Stocks Suddenly Slammed, Nasdaq Dives, VIX Spikes Above 10

Tyler Durden's picture

VIX is suddenly spiking higher (back above 10) and stocks lower - amid no obvious catalyst...

 

Nasdaq is tumbling...

 

As Dow Transports suffer their second biggest drop in 10 months...

 

And FANG Stocks dive...

NFLX and GOOGL are the big laggards today/this week...

We note that Bloomberg reported earlier that gains for Facebook and Amazon.com account for about two-thirds of the S&P 500’s 5 point gain.

Do Algos read Howard Marks?

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rmopf2010's picture

PPT get to work now !!!!!

Racer's picture

They will, never fear.....

rmopf2010's picture

what a relief !!!!!! Thanks

for a few seconds I was thinking what to do with my margin debt on fang stocks !

Zero_Ledge's picture

praise Jeebus, my VXX is finally green !

Ghost of PartysOver's picture

Prepare to buy the Dip.  Probably somewhere in the ES mid 50's.

rmopf2010's picture

Annnnnnnd it's gone !!!

The Dip

rmopf2010's picture

Probably Draghi or Yellen or Kuroda making fun of ZH readers with fake fiats!

the others are watching Kardashians !

Jim Sampson's picture

Well yeah, they aren't allowed in the military anymore.

LawsofPhysics's picture

Well, the "trannies" can no longer serve in the military, so what did you expect...?

 

bada-boom < crash >

nmewn's picture

One word son, plastics. 

malek's picture

Hmm, I detect a Civ player

Overleveraged_and_Impatient's picture

Omg WTF!!

I am hereby calling on the Presdient's Working Group on Financial Markets to fix this IMMEDIATELY! Meanwhile, buying this dip with more 3x Long Leveraged S&P 500. If must be, we can have Yellen call for an emergency microphone session.

Zero_Ledge's picture

I think there's a new 4X ETF.  You should use that instead.  Because 4X.

NugginFuts's picture

4X is for amateurs. Real pros use 100X.

nmewn's picture

Lookout! Its a trap!!!  ;-)

NDXTrader's picture

My guess: Yellen to lay out balance sheet drawdown at Jackson Hole...leaving Sept meeting open for a rate hike

macdavy's picture

just that guy called fat finger

NDXTrader's picture

Or Bloomberg now knows Amazon's earnings number

I woke up's picture

Is their stock going to $123.47?

Seasmoke's picture

The JooBuck is almost back to even from yesterday 159pm.

order66's picture

2480.25 is the top extreme on the weekly ES_F chart value bracket. Key level for bank desks. Always going to get sellers there on first tap.

me123me's picture

oh the vix spiked. Very important information, not. 

Tim Knight from Slope of Hope's picture

"Tech Wreck"=stocks a tiny fraction of a percent from highest prices in history.

Homie's picture

Fat finger

Cut if off and we're good as new

Sky flyer's picture

Holy hell! The DOW drops to +50. What ever shall we do?

Alchemedes's picture

"Nasdaq dives"??  Bah! NDX has.t even closed the gap from yesterday's close!

Latitude25's picture

Where are the BTFD bears?

Turin Turambar's picture

Simple explanation.  Stocks all ramped up into FANG earnings.  Now that they've pretty much all reported and been driven to record highs, it's time for the manipulators to cash out at the top and screw everybody else.  SMH

Hikikomori's picture

OMG!  OMG!  OMG!  - some stocks PLUNGE 1.6% - truly, the End Times are here!

TrainReck's picture

BTFD...What Train Reck? Responsive buyers shaking out those foolish shorts.

Zeej's picture

Clearly these markets are total bullshit

Days like today you can ease into a nice sized friday expiration OTM call position on these trash tech stocks and pay for a nice trip somehwere if the trade works in your favor.

south40_dreams's picture

Take away Janet's printer and watch those FANG stocks swoon

Grandad Grumps's picture

Just remember that the banks manage/control price. If price drops, then they made it drop.

syzygysus's picture

just clearing out my shorts.  had an issue earlier, too many tacos, thought it was a fart.

Oh wait, you meant the stock market.  errr, sorry....kind of gross...

Banker Buster's picture

Oh god plunge protection team, where are you, please come into the market.  /s  please keep the .gov idiots out of the markets.

onthedeschutes's picture

Tyler, please stop asking CNN to make up your headlines.

abbottmd's picture

I am guessing AMZN's earnings for tonight leaked, one of the last FAANGs to report

onthedeschutes's picture

Just got off the phone with the Swiss.  Turns out someone kicked the ethernet cable for the trading desk for the Swiss National Bank.  It's plugged back in now.  Upward rampfest on FANG stocks should resume any moment.  ECB, Bank of England, Bank of Japan all set to pick up any slack.

kenny500c's picture

Big buyers collude and agree not to buy for a few hours, stop loss orders get hit and shares are bought on the cheap. Then ramp up continues.

bluskyes's picture

Power outage in the Algo Data-Centre

chosen's picture

Take the escalator up, the elevator down.