Plenty to fret about (and laugh at).
April (and Q2) got off to a less than inspiring start on Monday as an early Asian rally shriveled up and died on the vine as the market tries to figure out how to digest myriad uncertainties around the burgeoning trade spat between Washington and Beijing.
“…we need some market stability at this point and hopefully we get to some calmer waters.”
Well markets are rocking from London to Hong Kong on Tuesday as the world takes its cues from the blockbuster rally U.S. stocks staged on Monday.
It was a black day for equities in Asia and Japan was hit especially hard.
It says a lot about how uninspiring a given day truly was when the biggest news involves Larry Kudlow.
“I would have never guessed that Japan’s commodity usage held up so strongly following the bursting of their financial bubble.”
Don’t worry, he’s got it under control.
“Am I wrong?”
“Oh, they’re drunk. How would they know where we’re going?”
It was all about the yen overnight. Again.
Asia is open.
And it is not pretty.
So you tell me: “healthy correction” or “global rout”?