Friday, October 26, 2018

Global 'Bloodbath' As Markets Collapse



Global Bloodbath: World Stocks Puke Over $8 Trillion As US Markets Collapse



Global capital markets are down five weeks in a row, losing just under $9 trillion - the biggest, fastest drop since Lehman... (around $8.2 trillion from global equity markets)


European banks were ugly led by Deutsche...




US Equity markets closed the week in the red for the year (but the rest of the world also continued to collapse)...





It's been ugly:
  • Dow down 9% from record high (down 4 of last 5 weeks)
  • S&P down 10.1% from record high (down 4 of last 5 weeks)
  • Nasdaq down 13% from record high (down 4 weeks in a row)
  • Dow Transports down 15.2% from record high (down 6 weeks in a row)
  • Small Caps down 15.8% from record high (down 6 weeks in a row)
With all the major US equity indices languishing below their 200DMA...




Global Systemically Important Banks had their worst week since March, tumbling for the 5th week in a row to the lowest since Nov 2016...down 30% from their highs...





FANG Stocks were hammered, worst week since March (down 4 weeks in a row) down 20% from their highs...






  • FB -33% from highs (well below 200DMA)
  • AMZN -19.75% from highs (closing below its 200DMA)
  • NFLX -28.8% from highs (closing below its 200DMA)
  • GOOGL -16.4% from highs (closing below its 200DMA)












However, the last word goes to Glusdkin Sheff's David Rosenberg...



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