No fundamental catalyst for today's tech wreck (just as there wasn't last time), but many people noted the coincidental timing of JPM's Kolanovic note on Vol fragilities coincided with the start of the pain...

Liquidity collapsed leaving many to think...

Since The Fed statement, gold is the biggest winner...

US equity markets suffered their worst day since June (with Trannies worst day since Brexit)... The Dow was the only index green on the day despite the ramp...

VIX spiked above 11...

Nasdaq VIX spiked back above 17 intraday and back above Russell 2000 vol..

Jeffrey Gundlach's DoubleLine Capital purchased some five-month put options on the S&P 500 Index a couple days ago as the CBOE Volatility Index fell to its lowest since December 1993.  "We lost money the first day we put on the trade, but now we are doing great. This is like free money," Gundlach, who is known on Wall Street as the Bond King, said in a telephone interview on Thursday. "We are in a seasonally weak period for stocks but more importantly, we think the VIX was really, really low. So the S&P puts are going long volatility."

Tech and Financials were worst, Retailers best...

FANG Stocks puked...

GOOGL and NFLX worst, FB best on the week...

For a few brief moments today, Jeff Bezos became the richest man in the world...

The death of BAT sparked a bid for retailers but sent AMZN back to the lows of the day...

Despite the plunge in stocks, bonds did not rally. Lots of chatter as VIX spiked that Risk-Parity funds were deleveraging and the big ATT bond isuance likely weighed on Treasuries...

The dollar v-shape-recovered from yesterday's Fed statement tumble...

USDJPY tumbled to a 110 handle but was quickly supported there... twice...

Gold had its best day in almost 2 months, closing at 6-week highs (back at Fed rate hike levels)...

WTI Crude closed above $49 (Sept contract) for the first time since the start of June...

So will tomorrow's GDP data send stocks back down to bond yields or vice versa...