1/6
Short 🧵on recent market action
S&P correction is now 12%, largest since spring of 2020
Short 🧵on recent market action
S&P correction is now 12%, largest since spring of 2020
2/6
The Russell 2000 (small cap stocks) is back into media defined bear market territory.
The Russell 2000 (small cap stocks) is back into media defined bear market territory.
3/6
NASDAQ Composite approaching media defined bear market levels.
NASDAQ Composite approaching media defined bear market levels.
4/6
ARK Innovation ... unspeakable pain and suffering. This is becoming a human rights abuse.
ARK Innovation ... unspeakable pain and suffering. This is becoming a human rights abuse.
5/6
The most worrisome part, to me, is interest rates are not giving an inch. In fact, the 2-year finished above 1.60%.
Zero flight to quality after all these stock market declines.
The most worrisome part, to me, is interest rates are not giving an inch. In fact, the 2-year finished above 1.60%.
Zero flight to quality after all these stock market declines.
6/6
My takeaway, this is about inflation. It is a real problem and needs to be dealt with, and if that means markets suffer, so be it.
Inflation is worse than a bear market.
This is why seven rate hikes are priced in and should be expected.
My takeaway, this is about inflation. It is a real problem and needs to be dealt with, and if that means markets suffer, so be it.
Inflation is worse than a bear market.
This is why seven rate hikes are priced in and should be expected.
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