Courtesy of John Rubino.
That was sudden. After soaring at the open and holding big gains all day, US equities fell off the table in the last 15 minutes of trading, ending over 500 DOW points below the day’s high. Guess the uncertainty isn’t over.
Looks like another central bank will have to step up this week. Since the Fed is already backtracking on its September rate increase, the simplest for all concerned will be a quick one-line press release saying “never mind.”
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