Stocks Suffer Worst Week Since Election As Banks, Bullion, & Bonds Sink
By Tyler Durden
The market's message to Dow 20,000 (or China's message to 'Murica)?
Thanks to China stealing an underwater drone and quad witch shenanigans, US equities closed red post-Fed…
And while Gold spiked today on China, it remains the biggest laggard post-Fed (though even bank stocks are now red)…
And today's China headlines realy spooked the market on edge anyway from OPEX
On the week only The Dow managed to hold onto gains…
- Trannies Dropped 2.5% – worst week in 6 months
- Financials dropped 1.6% – worst week in 3 months
- NYSE Composite worst week since election
On the week, stocks were mixed but Trannies worst…
Dow 20,000 was lost – 2 lower highs in a row post Fed spike…
Quad Wicth saw more VIX chaos with a total collapse into the close (note the corrrelation between stocks and VIX was extremely high once again – as opposed to norm)
Financial stocks were the week's worst performers (and healthcare best)…
Treasury yields ended the week higher across the curve BUT the long-end dramatically outperformed…
And the yield curve has tumbled in recent days…
The USD Index rose notably on the week to close at 14 year highs… (led by Yen and Aussie Dollar weakness)
The Dollar dump after China sparked some chaos in commodities and lifted crude oil into the green, silver was worst on the week…
Gold spiked today on China headlines but ended the week ugly – 6th weekly drop in a row (worst week since election week)
Source: Stocks Suffer Worst Week Since Election As Banks, Bullion, & Bonds Sink
