Stocks Suffer Worst Start To A Year Since The Dot-Com Crash

The re-awakening of "Blue Wave" risk...

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Source: Bloomberg

...along with escalating pandemic-related lockdowns/restrictions (worse than expected vaccination roll-out and hospitalization panic-mongering like we saw in 2018 due to the flu) sparked the worst start to a year for the S&P since 2001...

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The entire market was hit with a selling wave at the cash open after some hopeful buying overnight. NOTE, the markets all moved together largely...

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All sectors were lower led by Utilities (oddly) and Energy stocks led (lost the least)...

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Source: Bloomberg

But, don't panic... as the Robinhood'rs will be back tomorrow...

As @dougboneparth noted, summing up the markets perfectly:

"After watching a teenager on TikTok call their $600 stimulus check a 'stimmy' and recommend three stocks that will turn it into $13,000, I've decided to go deaf and blind."

VIX surged higher today...

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... with the short-end now inverted as expectations around tomorrow's GA Runoff vote leave traders looking to hedge uncertainty...

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Source: Bloomberg

Treasury yields were wildly unchanged today...

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Source: Bloomberg

But real yields collapsed to record lows (suggesting support for higher gold)...

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Source: Bloomberg

As Breakevens surged (10Y above 2%)...

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Source: Bloomberg

The dollar managed to scramble modestly higher today, bouncing off the 2018 lows critical support...

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Source: Bloomberg

While the dollar ended flat, it was the Chinese Yuan that made headlines overnight, surging to its strongest against the dollar since June 2018 and at a critical level that has prompted volatility-inducing devaluations in the past...

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Roland Murphy 3 weeks ago Member's comment

Isn't the title factually incorrect? Here is the data:

charts.stocktwits.com/.../original_269581152.png