Stocks Sink As Tech Tumble Trumps Banks Bid, High Yield Bonds Hammered

US equity markets are extending their Powell-plunge losses from after the close last night as FANG stocks (and tech broadly) is tumbling as banks are bid for a change.

Almost 70% of S&P stocks are lower...but it's Nasdaq that is getting hammered...

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Small Caps are still worst on the week/month... 

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FANG stocks no-bid...

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But banks are rebounding...

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And while High Yield bond spreads have tumbled to cycle lows, High Yield Bond ETF prices are collapsing back below their 200DMA...

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A sign of mass hedging in the only source of liquidity available that does not bode well for stocks...

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