The S&P 500 index has broken below the crucial psychological 2,000 level for the first time since late January. This is the biggest collapse in stocks since June 2013 (bigger than October’s plunge – which was only rescued by Bullard’s threat of QE4). What is perhaps most worrisome for the trend-followers – the S&P is now down year-over-year for the first time since May 2012… which once again brought The Fed out with moar QE.

 

The S&P 500 has broken below the crucial 2,000 level…

 

And The S&P 500 is now down YoY for the first time since May 2012…

 

Paging Laszlo Birinyi…

 

Charts: Bloomberg


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