Storm Clouds.
It’s not often you get the kind of violent, concentrated two-way turbulence that we experienced last week. In the course of three days, the S&P 500 had both its worst day since 2020 and its best day since 2022 and still ended the week unchanged.
The ferocious global market rout from the end of the prior week intensified on Monday as more storm clouds rapidly gathered over financial markets around the world. All hell broke loose in Asia where Japanese stocks got smashed by over 12%, suffering their worst day since Black Monday in 1987 and European markets rolled over.
It was likewise a…
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