Since August!!!! Talk about complacency!! Stocks drop the most since August, Dow loses 362 points "We've had a unilateral move higher [in stocks] to start things off and people are realizing this is not sustainable," one strategist said. The S&P 500 posted its worst session since August. Long-dated Treasury yields climbed further on Tuesday, with the U.S. 10-year Treasury yield trading near levels not seen since 2014, amid fears of higher inflation.
Three events in the next 24 hours that could determine whether the sell-off continues The stock market's worst enemy this week has been the bond market and rising interest rates, and now three big events could push those rates even higher in the next 24 hours. The first is President Donald Trump's State of the Union speech. The second is the Treasury's funding announcement, scheduled for 8:30 a.m. ET Wednesday, which should provide details on auction sizes. And finally the Federal Reserve holds its two-day meeting and is expected to issue a statement at the end of its meeting Wednesday that could sound slightly more hawkish. Patti Domm | @pattidomm Published 1 Hour AgoUpdated 14 Mins Ago
Stopped out the long Dow futures...but did some other trading plus I'm short volatility plus I'm long various stocks...all contributed ...
Watch the futures soar triple digits during the state of union address tonight!!!! Will be up a fresh 150+ by tomorrow morning!!! And Amazon will add another $15-20 billion in market cap as well....