US equity indexes closed powerfully lower, SPX -141pts (3.4%) at 4057. Nasdaq comp' -3.9%. Dow -3.0%. The Transports settled -3.9%. R2K -3.3%.
SPX - daily
VIX - daily
Summary
US equities opened in minor chop mode.
The CEO of Print Central duly appeared at 10am...
Powell warned of "some pain" to come, with rate hike'5 due Sept21st.
*I'd keep in mind the next CPI print is due Sept'13th (UK is due Sept'14th)
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Equities saw a spike to evens once Powell finished, but a secondary wave lower was far stronger, with the market spiraling lower into the close. Outright ugly.
Volatility picked up, the VIX settling +17.4% to 25.56.
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Goodnight
from London
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