https://www.zerohedge.com/markets/carnage-everywhere-market-begins-break
https://www.cnn.com/business/live-news/stock-market-news-russia-ukraine-030722/index.html
There is no other way to describe today’s market carnage than a market in turmoil where things are rapidly breaking as commodity collateral is suddenly sparking contagion and liquidations.
With S&P futures a one way elevator lower after a modest rip higher on Ukraine ceasefire optimism early in the session, sending spoos more than 120 points down from session highs and closing down 2.9%, below 4,200, its worst close since October 2020…
… and the Dow tumbling more than 800 points, everything was in the red, with the exception of the defensive utility sector and of course energy which is basking in the glow of a historic move in the commodity space.
The Nasdaq tumbled 3.6% with the help of Facebook and Moderna both of which have wiped out more than 50% of their value from all time highs, and is now down more than 20% from its all time high, closing in a bear market, where it joins the Russell, which is now also down more than 20% from ATH.
Prepare for the Coming of the Lord Jesus Christ!
Please repent, carry your cross daily and accept the free gift of Jesus Christ’s Death on the Cross for payment for your sins.
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