Dow, S&P Plunge Erases All Post-Powell Gains

All of the US majors are in the red today led by the Nasdaq puking, hurt by Meta's slide...

The Dow and the S&P 500 have joined the Russell 2000 in the red, erasing all of the massive gains from the post-Powell 'dovish' reaction in stocks...

The S&P 500 is tumbling back towards the 100DMA...

Rate-hike expectations remain modestly lower than before Powell spoke and rate-cut expectations modestly more dovish still than before the market perceived his comments as not-hawkish...

The dollar remains weaker post-Powell...

And bond yields are lower...

So much for the Santa Clause rally?