Stocks Tumble After Draghi Warns Of "Over-Stretched Valuations"

Is Mario Draghi trying to bury Lagarde before she even takes her chair at the head of the European Central Bank?

Having shrugged off record low (negative) yields, record tight credit spreads, soaring stocks, and collapsing risk on the back of his endless puking of monetary easing into the bottomless pit of European peripheral hell, Draghi has decided that now is the time to warn about "mild signs of over-stretched valuations" in markets...

Stocks did not like to hear that truthiness...

Additionally, VIX has traded like a penny stock all morning...

One thing is for sure, if he crashes the market, Lagarde will be forced to move to QE-Moar and the mutinous ECB will likely fall in line.