Man, were you there that day? I was. And I was listening to this dude screaming his lungs out as if the sky was falling. By comparison, today was like a walk in the park.
Not sure about the Flash Crash. Wasn't around. Didn't study it. But, I've seen some huge gaps on news releases this year. Today, was continous trading all the way through from bottom to top. 191 000 contracts in 8 minutes.
The Qs hit 400, what did you expect? And we'll likely go back up from here until Trump says something stupid to fuck it up again.
I didn’t hear anything positive from President Trump unless Trump not saying negative things is now the new positive? If so it’s V time! Correction, he doesn’t want war with Iran, that’s positive!
As @mervyn has pointed out, after tomorrow China does not remove its retaliatory tariffs, on the 9th Trump imposes an ***additional*** 50% tariff on China (so 104% tariff on your iPhones, 0% tariff on iPhones in the rest of the world including Canada and Mexico, just saying in case someone here needs a side gig ), then on the 10th China imposes another 50% retaliatory tariff on the US. Even if they stopped there (and Trump has said that then he would up even more), at >100% China-US tariffs trade basically stops to a grind. Let that sink in for a while... And while you're pondering the implications... April 15th arrives and you have retaliatory tariffs from the EU... (lagging, on steel, additional ones as retaliation over cars later)... which means Trump "has to" increase the tariff in Europe, which in turn means... that maybe the very slow, polite and patient in the EU, I don't know, start applying the Anti-coercion Instrument they develop for... (checks notes)... China... against... the US? So by next week you could have a situation where iPhones in the US are priced at double today's price, and a boycott in Europe and China... Or China and the EU start messing with Visa, Mastercard... Google, Meta... etc. Or, heaven forbid, TSMC pauses construction of its factory in the US. Somebody is going to fold here. It's not going to be China. EU will continue to offer a reasonable deal (that Trump does not want, because... maybe he wants, I don't know, some special personal "sweetener" that the EU is not going to give him). Who folds? Trump? If I was a gambling man I'd put my money on the US Congress taking away Trump's tariff extraordinary power.