What the...?
We're right in the middle of a huge European bank run ... the largest in history ... which is about to become much, much, worse.
The problem: the European Union is about to come unraveled and the Euro is about to collapse. Those people are trying to get their money the hell out of Dodge before it becomes completely worthless. The U.S. dollar is soaring despite its current weak status because it is the only currency large enough to absorb the influx of European deposits. The Fed (i.e. U.S. taxpayer) is engaged in all kinds of clandestine maneuvers (including massive money printing) to try and bail their butts out. It's not going to work. Explained in more detail four days ago HERE, HERE, and HERE.
Meanwhile, as explained HERE, the DAX (German stock exchange) is down 4.64% on the day and 32% from the highs of the year, the Hang Seng is down 4.85% on the day and 28.5% for the year. The Dow is about to join them. Then, they are all going to continue to drop together.
Most people have no idea whatsoever concerning how bad the global economy is or how bad things will become.
What the heck is going on? The dow went from -408 to -370 in a blink and then back to -398 in another blink. Is this the PPT attempting to reign it in for the end of the day?
And then Yahoo market crashes...