Tariff-Tantrum Sparks Worst Start To December For S&P Since 2008

By Tyler Durden

Tariff-Tantrum Sparks Worst Start To December For S&P Since 2008

Trump’s trade-deal-related comments, combined with Pence and Ross confirmations that Dec 15th tariffs are still on the table unless a deal is struck imminently, sent the market’s expectations for a trade deal tumbling….

Source: Bloomberg

Sparking the worst start to December since 2008…

Source: Bloomberg

As US equities caught down to bond-land’s all-knowing levels…

Source: Bloomberg

Dow Transports are suffering most since the start of December (and Small Caps are relative outperformers, but still down hard)…

Source: Bloomberg

Trannies briefly broke below their 200DMA…

Notably, today’s bounce took the S&P futs back to VWAP (and tried to get back to the critical 3100 gamma level, after bouncing off the 3070/75 gamma-flip level)…

Source: Bloomberg

Cyclicals were monkeyhammered today…

Source: Bloomberg

European markets slid as Trump raises the threat of tariffs of EU exports…

Source: Bloomberg

VIX spiked to 17.99 intraday before fading back (and the short-end term structure inverted briefly intraday)…

Source: Bloomberg

Are stocks getting ready to catch down to credit?

Source:: Zero Hedge

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