Momos Mauled: Nasdaq Crashes Most Since 2011, Stocks Tumble From Record High

Momos Mauled: Nasdaq Crashes Most Since 2011, Stocks Tumble From Record High (Zerohedge, April 4, 2014):

The jobs number expectation had been falling for a few days into the print this morning and despite the desperate efforts of every status-quo-hugging TV talking-head’s Goldilocks scenario, it was not a good report – it missed low expectations and it seems the market is realizing (having been told the bar is very high for an un-taper) that the Fed will not rescue it any time soon. GDP expectations are also tumbling and thus the hope-driven hyper-growth stocks have been monkey-hammered. This is the worst swing for the Nasdaq since Dec 2011 (with Russell, Dow, and Nasdaq -1% YTD). Momos and Biotechs were blamed but this was broad-based selling as JPY carry was unwound in a hurry. Gold rallied above $1300 (+8.1% YTD) as bond yield ripped lower for 5Y’s biggest daily drop in 10 weeks (short-end -4bps on the week). VIX pushed back above 14 (but it was clear derisking exposure – as opposed to hedging positions – was the order of the day).

“Not” Off The Lows…

Lead-ilocks!

But gold winning Year-to-Date…

1 thought on “Momos Mauled: Nasdaq Crashes Most Since 2011, Stocks Tumble From Record High

  1. To give credit, if this is the real start of the crash, the fed have worked magic delaying it, let’s be honest, the doom mongers have been setting dates for four years.

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