Stocks Slide From All Time High As Gaping Cracks Form Just Below The Surface

The record-breaking run in stocks hit a wall as still-elevated oil prices stoked concerns that potential inflationary pressures could trigger more interest-rate hikes.

It started with the overnight session, with futures sliding as they followed a material drop in Korea's Kospi, which closed at session lows as the 55 trillion won buyback quota of Samsung Eletronic and SK Hynix - which had singlehandedly propped up the Korean market for the past two months - are now ending far sooner than previously expected (mid-November) as both companies went on tilt buying back their stocks...