NASDAQ Now Off 2%, As Euro Surges And Dollar Plunges

All the correlations worked until they didn’t.

Perhaps the biggest shock of the day is that “Risk Off” doesn’t mean a knee-jerk purchase of the US Dollar.

It’s been plummeting all night, and is now off over 1%.

chart

Photo: FinViz

chart

Photo: FinViz

But actually this is not a new thing. The down-market, down dollar has been happening quietly for a while — well, basically since the beginning of June.

So, uh, will tomorrow’s big jobs report save us?

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