Gold Soars To New Record High; Stocks & Bond Yields Tumble As Powell Dismisses Fed Put

Today's chaos was brought to you by Chips, China, a choking Fed, and strong 'hard' data.

Shortly after the cash close last night, NVDA (to be followed by AMD today), announced massive charges due to new export licensing requirements (and therefore restrictions on chip sales) by the US govt. That loss extended into Europe's open with Nasdaq leading the charge lower. That's a $270 billion market cap loss...