AG 2000' said:
Anyone have a line on why everything took a giant dump at the end of the day? Talking macros.
What was the catalyst?
1) Nasdaq has gone up 2,000 points in 6 weeks, similar percentage on the SPX
2) Supply chain issues are still present
3) Russia amassing troops on Ukraine border
4) China and Russia have been flying war planes into Taiwan airspace
5) Covid surging in the EU with governments leaning towards implementing lockdowns again
6) Inflation growing
7) New home sales came in below expectations this morning
8) 10 yr yield increasing
The move we saw today should make everyone here more cautious and takeoff risk. It's not going to take much negative news to cause people to run for the exits. I'd caution taking out short term call positions with how the market is reacting.