Stocks More Oversold Than Covid Crash, But Goldman Traders See Even More Pain: Here's How They'll Trade It

To quote Jim Cramer, "they have no idea how bad it is out there" so here is some perspective of just how bad it is.

After yesterday's BOE rally fizzled with a bang, only two S&P 500 stocks were up this morning, which means a whopping 99.6% were down at a time when the S&P was plumbing new 2022 lows, down nearly 25% from the January all time highs. And as Bloomberg goes on to note, we are at the fifth day this month where more than 90% of the S&P 500 is declining. In March 2020, there were six such days.