After yesterday's violent selloff which was sparked by tech, Tuesday trading has so far been relatively calm and muted with Europe bourses paring early gains while Asian stocks trading slightly lower S&P futures were hugging the unchanged line as Nasdaq futures pointed to more tech declines
"It was noisy, there were complaints, I got mice," said mailman Rudolph Romano, adding that the Kushner Cos. tried to increase his rent by 60 percent. "They cleaned the place out. I watched the whole building leave."
As polls close in Russia, state-run TV is reporting exit polls (conducted by state-run VTsIOM polling company) showing a landslide victory for Vladimir Putin with 73.9% of the vote (above The Kremlin's pre-election whisper number of 70%).
The overnight session was already in a festive, risk-on mood with global market a sea of green, when the news hit that North Korea is ready to denuclearize "if the regime safety is assured", which sent futures to session highs, the dollar sliding, the USDJPY spiking and 10Y yields surging to 2.895%.
"I continue to expect the S&P 500 to lose about two-thirds of its value over the completion of the current market cycle. With market internals now unfavorable, following the most offensive 'overvalued, overbought, overbullish' combination of market conditions on record, our market outlook has shifted to hard-negative. "