Update: Who could have seen that coming? No immediate news catalyst for this sudden tumble - or did everyone just realize Kudlow's talk was just that...
Time to blame the algos!!
* * *
When in doubt - wheel out Larry Kudlow...
The White House Economic Advisor, under the guise of Plunge Protector, said this morning that:
*KUDLOW SAYS U.S. HAS BEEN WARNING HUAWEI ON SANCTIONS VIOLATION
*KUDLOW: HUAWEI DOESN'T HAVE TO SPILL INTO TRADE TALKS W/CHINA
*KUDLOW SAYS CHINESE CAR TARIFFS WILL COME DOWN RAPIDLY
So don;'t worry about Hauwei, oh and remember how awesome the car tariffs cut will be...
And most notably:
*KUDLOW SAYS TRUMP MAY GIVE CHINA MORE THAN 90 DAYS
And the result, stocks go vertical...
And the dollar dumps...
Someone please complain about these algos and machines that are ruining our markets... [crickets...]
Let's see what happens next - after Nasdaq futures were levitated to green.
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