Dow, S&P Plunge Erases All Post-Powell Gains

Dow, S&P Plunge Erases All Post-Powell Gains

All of the US majors are in the red today led by the Nasdaq puking, hurt by Meta’s slide…

The Dow and the S&P 500 have joined the Russell 2000 in the red, erasing all of the massive gains from the post-Powell ‘dovish’ reaction in stocks…

The S&P 500 is tumbling back towards the 100DMA…

Rate-hike expectations remain modestly lower than before Powell spoke and rate-cut expectations modestly more dovish still than before the market perceived his comments as not-hawkish…

The dollar remains weaker post-Powell…

And bond yields are lower…

So much for the Santa Clause rally?

Tyler Durden
Tue, 12/06/2022 – 10:47

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