Stocks Slump As Post-Election Surge Ends With Post-Powell Purge

By Tyler Durden

It was such a great ride… until today…

China stocks started the week confidently but ended weak with Shanghai Composite back below the 2600 Maginot Line…

Very mixed picture in Europe with Spain outperforming, Italy worst and the rest unch…

A roller-coaster week of oddness as US stocks were bid on post-election ‘gridlock’ when it was the opposite of gridlock that has sent stocks higher in the last two years… and then dumped when The Fed explained how great the economy was (and therefore it needs to be tamped down by hiking rates)… and then the ubiquitous Friday-closing-ramp…

Futures show the post-election pump and post-Powell dump best…

Dow bounced at its 50DMA, S&P bounced at its 200DMA, NASDAQ ended up below its 200DMA

On the week, Communication Services was crushed and Healthcare outperformed (especially post-election)…

FANG Stocks ended the week in the red after giving it all back today…

Financials outperformed (perhaps because they know Maxine Waters is running the show now), even as the yield curve flattened notably post-Fed…

GE was a …read more

Source:: Zero Hedge

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