Death crosses; Hindenburg Omens; PBOC, BOJ, and ECB hinted at removing the punchbowl; crappy US housing data; and a Chinese IPO takeout hangover weighed on stocks with Russell 2000 the biggest loser (suffering its biggest high-to-low drop from Friday in over 5 months). The Dow is the only index holding post-FOMC gains (Russell down over 2%). Homebuilders are now down 4% from last week's FOMC statement, post-FOMC high-flyer financials have tumbled red (catching down to credit), and only safe-haven healthcare is holding any gains post-FOMC (Biotech -3%). Treasury yields fell led by the short-end (3Y -3.5bps, 10Y -2bps) back under FOMC levels. The USD recovered European session losses to end almost unchanged as considerable AUD and CAD weakness outweighed GBP strength. Despite being clubbed like a baby seal in Asia, Silver rebounded through the day to end -0.3%, gold unch, oil down, and copper -1.6% as China stimulus hopes faded. S&P 500 lost 2,000; Russell is down 2.6% year-to-date (-6.8% from July highs); VIX jumped most in 2 months to ~14. BABA pinned at $90, HLF smashed -10%.
Stocks remain notably rich to the Fed Balance Sheet - as its growth slows to a trickle
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Russell's biggest 2-day swing lower in 5 months... as the death cross hits...
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An ugly day for stocks...
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But since FOMC, even uglier...
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Who could have seen financial stocks getting ahead of themselves?
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As only healthcare is holdings its post-FOMC gains...
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The USD ended the day modestly lower - recovering most of the overnight session losses - with CAD/AUD weakness outweighed by GBP and EUR strength
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Treasury yields fell on the day, back below FOMC levels... sliding into the close...
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Silver was dumped and pumped, Copper dropped and gold ended unch...
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A close-up on the silver liquidations and bounce back...
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Charts: Bloomberg
Bonus Chart: BABA pinned at $90...
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Bonus Bonus Chart: HLF -10% on heavy volume, no news... where's Icahn?
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