"Black Monday" Brings Global Market Rout, Investors Mourn The Death Of Central Bank Omnipotence

Another day in ignoropia...

And a second clip - because we can - that seemed a perfect analog for mainstream media in the middle of today...

American Molly Huddle celebrates too early & loses bronze medal in world final of 10,000 meters. Biggest #EpicFail 😳 pic.twitter.com/AC9iFEuUhj
— Asjad Nazir (@asjadnazir) August 24, 2015

It started in China...

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Continued in Europe...

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And then catastrophied in The US...

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The crash in stocks at the open appeared as much driven by a collapse in USDJPY - JPY carry unwinds - which ripped back and lifted stocks...

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Cash indices ripped back off the lows and Nasdaq 'touched' unchanged on the back of AAPL... before it all fell apart again...

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As the end of the day loomed, chatter of QE4 (hope) and PBOC RRR Cut (hope) managed to ramp stocks... dragging S&P minis back to VWAP... (on heavy volume)

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Some context for the drop today...

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Everything is red post-QE3...

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Energy stocks crashed, catching down to energy credit markets...which hit another record wide today...

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"Inconceivable" - US financial stocks collapse to credit...

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VIX explodeder...

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Catching up to credit...

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Treasury yields plunged as stocks collapsed but as the PPT stepped in and rescued AAPL, so bonds got hit (with the long bond yield soaring to +4bps from -11bps at one point)... then as the weakness re-accelerated, yields plunged... 10Y traded with a 1 handle once again... and 30Y went out with a higher yield

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