The message from the markets...
Year-over-year, The Dow is down almost 5%, its biggest such decline since 2009... not that once the YoY trend turns negative, it tends to persist... (Dow is unchanged since Dec 2013)
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Futures show the pain really began when VW hit the tape early in the European session...
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On a side note, DAX is now down 17% since Draghi began Q€...
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But then again... maybe it's just EURJPY carry once again running the entire risk-on/risk-off show...
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Stocks tanked on the day... with some Papal Panic Buying the close...
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Dragged into the red for the week...
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Since Yellen lost all The Fed's credibility...
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And the year... It appeasrs everyone was desperate to keep the Nasdaq green in 2015 dream alive...
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VIX jumped over 17% today - its biggest move since Black Monday
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With an epic fat finger at the close...
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High Yield credit cointinues to flash red.. and stocks are slowly figuring it out...
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Tressury yields collapsed even more than they spiked yesterday...
The Dollar gained ground amid EUR and AUD weakness...biggst 3-day USD Index rise in a month Once again the pattern is clear - USD selling pressure during Asia, USD buying (EUR selling) during Europe...
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Commodities slipped on dollar strength and china growth fears (after ADB)...
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But crude's utterly insane melt-up intop NYMEX Close (not unusual) is just becoming farcical...
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Charts: Bloomberg
Bonus Chart: Beware The Papal Visit Omen...
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Bonus Bonus Chart: This one made us think maybe it's Time for Gold/Dow again... perfect roundtrip from Lehman to End QE3...
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Bonus Bonus Bonus Chart: Thinking out loud - but something broke in "currencies" when China devalued...
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Bonus Bonus Bonus Bonus Chart: Still climbing?
I think they got this idea from me pic.twitter.com/1BVfXSpxNR [27]
— StockCats (@StockCats) September 22, 2015 [28]