Stocks Slammed Below Key Support As Oil, Yields Soar

If yesterday was an "everything green" kinda day (albeit with low volume, and even lower liquidity) today was the mirror image as everything sold off (except energy).

What was notable about yesterday's meltup, is that there was no clear catalyst for the buying: yes, the macro data (ADP and Service ISM) was very strong, but we are currently in a "bad news is good news" regime, so strong data should have hammered stocks not lifted them (since rate cut odds drop). Not to mention the escalating war in Iran.