Q4 Starts With A Clobbering

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Now that the books are closed for Q3 the market appears to have gone into taking-gains mode.

The Dow and S&P are off about 1.5%, with the Nasdaq down over 2%.

In fact, just about everything is going down today… except dollars and treasuries. 10-year U.S. bond yields have hit 3.22%, one of the lowest levels since May.

Adding to the signals of fear,the Volatility Index (VIX) has jumped over 7%. Put protection is getting more expensive.

 

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