Who could have seen this coming? 

And Bob Pisani is not happy... 

Stocks midday: classic low-volume drift lower. Bids have evaporated, buyers acting like done for year. < 1% from historic high on $SPY.

— Bob Pisani (@BobPisani) December 28, 2016

As The S&P tumbled most since Oct 11th...

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Trannies and Small Caps were worst today...

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Futures show the difference as yesterday's US open was a buying panic and today's a selling panic...

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VIX topped 13 briefly today as The Dow dropped 150 points from opening highs...

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Sectors red across the board post-Xmas... Financials were hit but oddly Utes also sold (despite lower yields)...

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The long bond is now best post-Fed - holding unchanged as stocks and gold slide...

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High- and Low-Beta stocks in the S&P 500 have become entirely uncorrelated for the first time since the peak of the dotcom crash...

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Bonds had their best day since August today - amid record indirects at the 5Y auction - with yields down 4 to 6bps across the complex) - 30Y yields dropped to 3-week lows...

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It seems S&P dividend yields capped the 5Y yield advance...

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The USD Index rose again on weakness across all majors overnight, then faded during the US day session...

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Copper sank on the day as China fears continue as gold & silver gained...

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Silver jumped above $16 again...

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Gold up 4 days in a row - longest streak since before election...

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Bitcoin was whacked early on but recovered its losses...

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