Wednesday's Market Mayhem Shows How Four Huge Asset Classes Are Intertwined
"It's all one trade!"
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Wednesday was "a complete and utter mess" in markets, according to Bespoke Investment Group. What were some of the wild moves?
Oil rallied on what at first blush would seem to be price-negative news (another massive build in inventories), with front-month West Texas Intermediate futures contracts spiking 10 percent. The U.S. dollar suffered its worst day in seven years, while the S&P 500 had two intraday swings of more than 2 percent.