Dunno about anyone else, but I'm getting a huge caning today on my positions, largest hit for a long time. I have a watchlist which consists of 73 special stocks and out of that only 5 are just green, eight are flat, sixty are red. There's a little penny stock I wanted to buy and I did today, hammered down 18%, so I snaffled up two lots. Usually when ASX gets hammered your turn comes 12 hours later. Looking forward to the fun. Nasdaq futures down 2.55% atm.
Bloomberg blames it on the rising commodity prices, which in turn will lead to higher inflation: https://finance.yahoo.com/news/asia-stocks-track-u-slide-213215293.html I did notice last week that my futures positions HG (copper), ZC (corn), ZW (wheat) and ZS (soybean) were steadily making higher profits.
In case you're wondering what this means, there's this little Co. which went to 18cents which I'd been holding once upon a time. It had been falling recently, yesterday was 12.5c, today it fell to 10c where I'd previously placed a buy, so bought in. 15 minutes later it fell to 9c so I pounced on another lot. Low for day was ~ 8.5c but closed at 9c. If it continues falling, probably will buy more.
I think I know which company you are speaking of. Forgot the name, an Australian driller or energy resource company, starts with Ex...., traded last year for a long time around 13 or so cents after it went up to 18 or 19 or so? I might be off with the exact numbers but it sounded similar to a name I have come across a while ago.