“Bloodbath” – Dow Crashes Over 1000 Points, Enters Correction
“Bloodbath” – Dow Crashes Over 1000 Points, Enters Correction from ZeroHedge
Dow crashed over 1000 points today….
Markets “turmoiled” again today as Treasury yields spiked on a weak auction and the implications of a budget deal that means more supply is coming. This spooked stocks once again and XIV, the Inverse ETF, tumbled at the open – after ramping stocks delusionally into the open. As stocks got monkey-hammered again, so bonds were bid and ended with a relatively small rise in rates as plunges in Risk-Parity funds likely prompted forced delevering in stocks and bonds. Perhaps most notably, credit spreads started to snap wider and rate volatility spiked as equity market contagion spreads.