Momo Meltdown Spreads To Broad Market; Bitcoin & Bullion Extend Losses

An ugly day for stocks as the recent theme of 'selling the winners' (taking profits?) continued as the YTD best performers have been clubbed like a baby seal in recent days.

This 'under the covers' deterioration has (until today) been largely hidden from view as the indices hovered near record highs, but (not helped by NFLX), today saw the pain spread to the broad market, exacerbated by yet another escalation in Trump's trade rhetoric with China.