Dow Crashes To October Lows As Traders Price In End Of Fed Tightening

From the euphoric 26,088 highs on Sunday night, Dow futures are down over 1700 points… (and down 800 today!!)

Crashing back to October’s lows…

Stocks have caught down to bond bears capitulation…

Massive waves of sell programs are hitting…

 

As Fed policy expectations are destroyed by the market…

Expectations are now for just 12bps (half a ‘normal’ rate hike) in 2019 and a 10bps rate cut in 2020!!

And all of this on double the average S&P day’s volume…