breaking news Nasdaq drop nears 4% as focus shifts to next week’s CPI report

Selling stocks today is totally unforgiving.

The combination of strident and hawkish rhetoric from Fed officials this week and a decently strong nonfarm payrolls report today led to the abandonment of the “Fed pivot” trade.

The week had started with a +5% gain but now the Nasdaq is barely in positive territory, up just 0.7%.

I can’t help but think that the failure to sustain even a modest rally from the June/September lows is a sign of a potential rout. I’m sorry to think what will happen if next Thursday’s CPI report is hot.


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