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The Day The Robots Died.

R.I.P.

Well, Tuesday started off great and then went to hell in a handbasket - that's pretty much the only way to describe it. The overseas session was ebullient as Asian markets took their cues from Wall Street's Monday bonanza, and European shares rebounded nicely after falling into a correction to start the week. At some point, it sunk in that exactly none of the problems that conspired to push U.S. equities dramatically lower last week had in fact been resolved. As it turns out, it's going to take more than Steve Mnuchin talking to Fox News and Donald Trump going a day without tweeting anything absolutely crazy to cure what ails us.   On Tuesday morning, Bloomberg's Mark Cudmore laid out the long list of worries that still hangs over markets and if you just scan that list, you'd be hard pressed to find anything that warrants the type of panic bid we saw on Monday. But really, Tuesday was all about the robots. It was the worst day for tech since February 8: Widest daily trading range for big-cap tech since the August 2015 chaos: Nasdaq VIX highest since the February turmoil: Dow down 344, erasing half of yesterday's gain. Remember this?...
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7 comments on “The Day The Robots Died.

  1. Big Stevie says:

    The HFT robots may be artificially intelligent (and supremely ready for prime time) when volatility is at all-time lows.

    But when it hits the fan, no algorithm can possibly know what to do.

    Humans aren’t any better than machines at navigating wild market swings. Both players bring their own quirks to the game — which is why the current level of complexity in the system will trigger a whole new kind of ‘supercritical’ behavior.

  2. Dan says:

    That video still of the Huckabull is scary. Think I’m going to take Elon’s advice and “buy GM.” BTW H, is it a “scare” quote or an “air” quote? Only ask since one uses air quotes in conversation and it therefore makes more sense. Not trying to be a smartass or anything, just trying to help.

  3. Curt Tyner says:

    Welcome to the new normal same as the old normal. We will get fooled again. (Credit:The Who) Who?

  4. Tom Swift says:

    H / WW : And now for the rest of the story.
    America’s first gold rush WAS started by a 17 lb. doorstop.
    Very close to clear paperwight rocks more expensive that diamonds – hiddenite.
    Jus’ sayin’.

  5. […] be subject to the type of regulatory risk that could imperil their business models. The late March tech bloodbath cast considerable doubt on the notion that somehow, tech had become a “safe haven” in an […]

  6. […] because the short VIX ETP massacre cleared the deck). That too proved prescient as tech would promptly stumble on regulatory concerns (“just sell the damn […]

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