Euro markets (DAX, OMX, FTSE etc) opened lower but nothing crazy. Fairly tight range and no sharp moves all until just after lunchtime which is above 7am in the US. Was the chaos just that the US woke up and clicked on the sell button or did I miss something ?
It's all about China. That move occurred likely because China's Shanghai index never rebounded from the 5% down move.
Where you been since the 19th ? Sell button clicked on awhile ago in many markets including the U.S. markets...same global reasons as last week. Today the sell-off is just worst. Yet, I'm not sure why today is much worst when it could have been last week's Weds, Thurs or Friday of last week (China, FED and Oil). Maybe Crude Oil CL dropping below the hyped 40 area today had helped steam roll some things today too.
Imho nobody need the explanations (reasons) of what has happened, is happening or will happen ... Any explanations will not help all of those who do not know what to do, and those few who know what to do - do not need explanations.
Disagree, been trying to work out what the hell caused that choas, not a fundemental trader, so nice simple explanation works for me. So China's going under and taking everyone else with it. 2nd Black Swan this year, there was chatter on today being BAD though around atleast this time. The Trend before the big move held, but as most try to pick tops they'd of likely been short and therefore most likely got slapped badly, but smart money knew it was coming no doubt. The Trend be your friend, until it smacks you in the face! 9
Economists make entire careers out of "explaining" what the market is doing, has done or will do. Yet few of them can trade worth a damn. So knowing WHY means little or nothing. Knowing HOW to deal with what has happened is the whole ballgame.
This markets are not base on the economy fundamental. It is all about Central Banks around the world with QEs, ZIRP and much more money from printing from the thin air. But no growth economy, not real jobs and stock market way over values. Book your profit ASAP and then you can come back later.