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Wall St Whipsaws - What Next?
Manage episode 327674997 series 3085687
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Last night continued the biggest sharemarket whipsaw since peak COVD turmoil in mid 2020. After the biggest Fed day surge in 44 years on Wednesday night, last night saw the biggest drop since June 2020 with the NASDAQ down 6% at its worst and 5% at close. The S&P500 was down over 3.5% as well and to complete the reversal of ‘all things’ bonds tanked (yields shot up), the other safe haven of gold also fell back below US$1900, and the USD surged to wipe out yesterday’s gains but saw a much weaker AUD and gold hold steady in AUD terms. So what on earth is going on?
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