"Wild Moves", "Chaos", & "Stuff Trading Backwards": Traders Tantrum At Lack Of Post-Powell Bounce

Despite President Trump's declaration that the meeting with Xi was a '12' on the amplifier of trade deal awesomeness, that apparent reduction in tariff tensions was unable to overcome the hawkish swing from Powell (which we don't believe is his reality - more publicly recognizing the division within The Fed), mixed-to-weak outcomes from major tech earnings, cracks starting to appear in the credit market (most specifically the risk of AI-related names as we detailed here).... and none of that was helped by the appearance of (cue Jaws music) a Hindenburg Omen.

Stocks were unable to stage a rebound from yesterday's Powell-driven plunge with Nasdaq and S&P the laggards. Late in the day, stocks losses accelerate despite (or because of, perhaps) another NVDA-based headline: "*NVIDIA TO INVEST UP TO $1 BILLION IN AI STARTUP POOLSIDE" - are investors finally seeing the circular financing for the ponzi it is?