Presented with little comment aside to ask... if 'weather' can do this much damage to the US economy and 'faith' in the wealth effect-building benefits of the US equity market are this weak, then there are a few uncomfortable truths about to punch some talking heads in the mouth...
Q1 GDP estimates are down 30% in the last 2 months... that is a 30% plunge in the US economy due to "weather" in Winter... (and even hopes for the full year are starting to be curtailed)
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And the wealth-building benefits of a Fed-promoted US equity market appear to be falling on deafer and deafer ears since the mid-Feb EM crisis lows... as money flow - comparable to breadth - collapses...
[5]
So people have lost faith in the economic recovery and are losing faith in the financial recovery... what next? The blasphemy of dobting the Fed's omnipotence?
And for those that miss it...
Charts: Bloomberg
h/t @Not_Jim_Cramer