By Chris Becker
The volatility is ramping up as the Asian FX flash crash and the fallout from the Apple guidance cut was exarcebated by an unexpected drop in the US ISM manufacturing print. US stocks tumbled, with the NASDAQ losing a little over 3% with Treasury yields falling sharply as the yield curve braces for inversion. A great start to the New Year if you like playing with fire as most are heading for safe havens like gold and Yen.
Recapping Asia’s session yesterday first where the Hang Seng Index gapped lower on the open , but saw a lot of mid session volatility, closing about 0.2% lower to 25030 points. There’s no sign of buyers here with a retest to the previous lows at 24500 likely:
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