This is the biggest drop for Bank stocks since Brexit, as investor concerns over Trump"s reform agenda grow...
And, as Nanex points out, S&P 500 futures liquidity is collapsing today.
Why? Because whereas the BTFDers have been willing to jump in and, well, BTFD, on days where there is a sharp move lower, both the HFTs and the carbon-based traders step aside and pull their bids, unsure if this is "the start" of the selloff. Maybe this time they are right, as the bank bloodbath continues:
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