Dip buyers lose momentum
It’s a rollercoaster today in equity markets. The impressive rebound from opening levels has now evaporated and stocks are at the lows.
The S&P 500 is down 72 points or 1.7% to 4117. The Nasadq is also down 1.7%.
FX (particularly commodity FX) is trading in lockstep with stocks. USD/CAD is now back higher on the day at 1.2109 from a low of 1.2079 a short time ago.