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Bullion, Bonds, & Bitcoin Jump As Stocks Slump

Courtesy of ZeroHedge View original post here.

Just when you thought it was safe to buy any dip, we suffer the worst day in stocks in over 6 weeks as a series of headlines weighed on sentiment…

  • 0830ET *FIRST RISE IN INITIAL JOBLESS CLAIMS SINCE MARCH

  • 1035ET *FLORIDA POSTS RECORD 173 DAILY VIRUS DEATHS AMONG RESIDENTS

  • 1320ET *HOUSE ANTITRUST PANEL TO EYE AMAZON, APPLE, FACEBOOK, GOOGLE

  • 1335ET *APPLE FACING MULTI-STATE CONSUMER PROTECTION PROBE

But then, in a panicked moment from The Fed as losses accelerated, the collapse stalled as this hit…

  • 1430ET *FED BROADENS FIRMS IT WILL TRANSACT WITH ON THREE LOAN PROGRAMS

But we suspect The Fed is "gonna need a bigger boat"…

Nasdaq led the markets lower with Small Caps outperforming…NOTE the battle that occurred in the last 90 minutes to stabilize the market – makes you wonder who kept bidding every tiny dip to the day's lows…

Today's move erased most of the Nasdaq outperformance of the Russell 2000 this month…

Source: Bloomberg

FANG Stocks extended their losses, erasing all of Monday's panic-bid gains…

Source: Bloomberg

AAPL was downgraded by Goldman (citing its price appreciation as "unsustainable") and tumbled then accelerated on the consumer fraud probe… this is AAPL's worst day since 3/20

MSFT is back in the red for July and FB & AAPL are also rapidly erasing their July gains (AMZN is still leading on the month)…

TSLA earnings smashed expectations but investors appear to have finally started looking through the smoke and mirrors

And as stocks tumbled, safe-haven and alternatives were bid, with Treasury yields falling further…

Source: Bloomberg

This is the lowest 10Y yield close since 4/21 (and 2nd lowest close ever) as stocks remain a post-modern version of reality…

Source: Bloomberg

Gold  rebounded off early efforts to hammer them…

But silver did notably did not after its recent surge…

Bitcoin legged higher again on the day…

Source: Bloomberg

Ethereum really surged the last few days…

Source: Bloomberg

Pushing ETH to its highest since Feb 2020…

Source: Bloomberg

The Dollar was lower again but tried hard to rally back late on (another intraday pump and dump though)…

Source: Bloomberg

Pushing the Dollar Index to its lowest of the year…

Source: Bloomberg

Oil prices fell on the day as stocks sank with WTI findingh brief support at $41..

The silver weakness today stabilized the recent plunge in the gold/silver ratio…

Source: Bloomberg

Finally, the acceleration in cases has slowed and while the deceleration in deaths has stalled, there is no sign of an imminent wave of plague-like fatalities anytime soon… (paging Dr.Fauci)

Source: Bloomberg


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