04 October 2016

SP 500 and NDX Futures Daily Charts - Stocks Sell Off On Richmond Fed's Hawish Statements

The Richmond Fed President Jeff Lacker made some noise this morning about the need for much higher interest rates now to head off inflation, and the markets used that as an excuse to sell off. This looks and smells like a trading gambit that Lacker merely served to feed.

The US dollar gained some strength, and the miners were pummeled.

Have a pleasant evening.