Powell put begins to fade as equities turn lower again

Stock markets slide again

Stock markets slide again

Powell has certainly given the market everything it wanted and for a moment, that looked like it could be enough but tech selling is starting up again and the Nasdaq is down 2.3%.

Correlations are tight today and the dollar is moving back up as equities sag.

I suspect we’ll have to wait until the end of the day to get some kind of resolution.

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