Remember when the Chairsatan announced that the US entered a recession yesterday and nobody noticed, even when Zero Hedge said it would take the market a day for the "sophisticated market players" to figure what just happened. No? We have one word... well, and one number: DOW(N): 521.
And as for Bank of America... the market appears to have great confidence in Moynihan's words... Just great.
Oh yes... gold
Full market U.S. market recap: 4pm (courtesy of Bloomberg All News)
- S&P 500 down 4.5% to 1119.91
- Dow down 4.7% to 10707.45
- Nasdaq down 4.1% to 2380.77
- S&P Mid 400 down 3.4% to 796.75
- Russell 2000 down 5.3% to 659.61
- Front Month Crude up 2.8% to $81.5
- Front Month Gold up 3% to $1791.4
- EURUSD down 0.1% to $1.4182
- 10-yr yld down 17bps to 2.08%