On the day:
- S&P 500 -1.6%
- Nasdaq Comp -2.3%
- DJIA -1.6%
- Russell 2000 -2.9%
- Toronto TSX Comp -1.8%
This selloff seemingly came out of nowhere. Michael Burry throwing in the towel is one of those kinds of things that makes people think it's the top but there wasn't a real trigger. Yes, there are worries about tech and AI overspend. Yes, the Fed might not cut in December. But neither of those things is something we didn't know yesterday when stocks had a nice rally.
In terms of technicals, the recent lows held in the main US markets but the Russell 2000 dipped below.
