ES Plummets To Fresh 2011 Low, Next Support In Middle 1100s On Global Risk Capitulation

Tyler Durden's picture

Complete capitulation in the market, accentuated by feedback from one of our Italian PM sources, whose comment on the Italian market says enough: "UTTER PANIC - DEGROSSING ACROSS THE BOARD. DELEVERAGING. RISK MANAGERS IN CONTROL." Which is why bouncing cat dip buying may commence shortly. In the meantime, the Swiss Stock market just entered bear market territory after dropping 20% from the February high.