Stocks Are Tanking...

Update: Is China driving this bond weakness?

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Nasdaq - which was up 0.8% at one point this morning - legged lower after Jeff Gundlach's Facebook comments but has just tumbled back below Friday's lows...

Dow is now down over 500 points from last week's highs...

The specific catalyst for this latest plunge is unclear for now...

But Citi notes that while no single driver stands out for the shift in sentiment, a few headlines deserve note:

Traders are watching Bloomberg highlights from the Sohn Conference. Currently, hedge fund manager Glen Kacher speaks on the rising risks of cyber attacks on the financial system. He warns that a successful attack could trigger the next financial crisis.

Before Kacher, we saw headlines from the Trump Administration. He still favors a tougher Iran deal and there continues to be no plans to lift sanctions before North Korea takes concrete actions for ultimate denuclearization.

In Canada, reports are coming in of an incident. A driver of a van in Toronto hit pedestrians - PM Trudeau says that the government is still gathering information. The reason or cause for the incident is not known.

The S&P and Dow are back in the red for 2018...

The 10Y Yield is not directly driving this latest leg...

 

And the Dollar made no reflexive move as stocks plunged...