So how is your morning going?
The Asian session was a nightmare with the Nikkei dropping as much as 15.1% before settling down around 13.5%
If you quit smoking or drinking to celebrate your gains for the year, you might want to buy some whiskey or wine and a box of Camel, no filters. Because as of right now, all of the gains for the NASDAQ this year could be wiped out by 10 a.m. ET this morning.
Meanwhile, if one wants to see what hedging fear looks like, well the VIX skyrocketed at the Asian open to over 41 before settling down where it is now:
Obviously today will be a fascinating trading session and this blogger will have more to say tonight after the close.
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