Markets have reversed, from up over 115 on the Dow to flat to down 50. There’s still 90 minutes to go until the close, so anything can happen.
A couple of likely suspects as to the cause:
-JPMorgan revises downwards estimates of Chinese high flyer BIDU evenue (WSJ MarketBeat)
-Big firm downgrade on Tech sector
-ECB governor Weber stated that the ECB may need to raise rates to a "restrictive"
Sentiment has gotten somewhat bulIlish, and I’m not so sure any of these things are the root cause — or will stick — but thats what I have been hearing . . .
UPDATE: October 12, 5:23am
Here’s a chart showing Baidu leading the stock S&P 500 Index lower on Thursday:
Chart courtesy of M. Ramsey King Securities, Inc.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.