Loading ...Literally everything around the world is in crash mode. Nikkei down 12+% as the Yen climbs.
Bitcoin down 9+% to 52K (can’t say that bothers me) Oil down in the $72 range. PM’s down – Gold $20, Silver $.74 we never have held up in a crash, so no reason this time, I guess. Although on a relative basis, gold is a winner compared to platinum and palladium, which are down 3+% and even copper, down 2%. Not much of a consolation.
SM Futures getting clocked, Nasdaq down near 4%
Though the dollar is down, as well as rates. So, bonds are the clear winner with the 10 yr. down to 3.75%
NVDA now down 20+%, raging bull to raging bear. That doesn’t bode well for the Nasdaq, which is about 70% overvalued.
So much happening in the country and world. War in the M.E. expanding quickly. Hard to see the markets finding their footing for a while. On the plus side, inflation should come down, rate cuts are assured.
Buckle up. Long day and month ahead.