Global Bloodbath: World Stocks Puke Over $8 Trillion As US Markets Collapse

Aaaaaand, it’s gone!

Global capital markets are down five weeks in a row, losing just under $9 trillion – the biggest, fastest drop since Lehman (around $8.2 trillion from global equity markets).

Chinese stocks managed to end the week green thanks to numerous National Team interventions.

European stocks ended the week red (down 4 of the last 5 weeks) to the lowest level since December 2016… with DAX worst of all (worse than Italy).

European banks were ugly led by Deutsche Bank.

US Equity markets closed the week in the red for the year (but the rest of the world also continued to collapse).

Buy the dip and sell the rip…all major US equity indices were red on the week.

Another ugly open, immediate ramp fest and puke…

Futures show the complete picture of chaotic lower highs and lower lows…Octoberfest… was full of dead cats

The S&P 500 had dropped 15 times this month. That was the most for a full month since October 2008, when the world’s biggest central banks cut interest rates and U.S. money-market funds got a bailout.

It’s been ugly:

Dow down 9% from record high (down 4 of last 5 weeks)

S&P down 10.1% from record high (down 4 of last 5 weeks)

Nasdaq down 13% from record high (down 4 weeks in a row)

Dow Transports down 15.2% from record high (down 6 weeks in a row)

Small Caps down 15.8% from record high (down 6 weeks in a row)

With all the major US equity indices languishing below their 200DMA…

Only the Nasdaq remains green for 2018…

The VIX term structure remains inverted for the 15th day and unusually has re-accelerated without normalizing).

Global systemically important banks had their worst week since March, tumbling for the 5th week in a row to the lowest since Nov 2016…down 30% from their highs.