It's been a while since we used this one...

Video length: 00:00:08

This happened...

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And appears to be the straw that broke the complacency camel's back....

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Quite a day...

• S&P 500 biggest drop since Sept 2016 (broke below 50-dma)
• Small Caps biggest drop since Sept 2016 (broke below 50-, 100-dma)
• Nasdaq biggest drop since Sept 2016
• Dow Industrials biggest drop since Sept 2016 (broke below 50-dma)
• Dow Transports the biggest drop since June 2016 (broke below 50-, 100-dma, and near 200-dma) - now negative year-to-date

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And across asset classes...

• VIX biggest jump since Brexit June 2016 (smashed through 50-, 100- and 200-dma) above 15
• Short-Term VIX jumped by the most on record (up 95% to the highest since the election)

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VIX > 15, I'm sorry, I need to do some hedging trades pic.twitter.com/i1gCxbs1Va

— zerohedge (@zerohedge) May 17, 2017

• 30Y US Treasury Fut biggest gain since June 2016
• USD Index down 6th day in a row to lowest since trump election
• USDJPY's biggest drop since July 2016 (broke below 50- and 100-dma) to 110 handle

Safe-haven buying gold and bonds as the dollar were dumped along with banks...

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And we actually heard someone say "This is nonsense, the fundamentals are solid, Trump doesn't matter"... Well if it wasn't Trump hope holding stocks up - what was it?

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All major US equity indices were red today...NOT OFF THE LOWS!!

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Trannies are back in the red year-to-date and Small Caps tested unch...

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VIX soared over 15 - filling the gap from the French Election...

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Financials back in the red year-to-date...

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Led by a collapse in The Big Four...

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AAPL was hammered... worst day since April 2016

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Treasury yields collapse most since the first trading day of the year... Yields crashed 8-10bps today pushing them all down for the month...

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30Y Yield crashed back below 3.00%, back to pre-French election levels...

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The Dollar Index has clubbed again - 6th down day in a row to pre-Trump election levels...

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Since the election, Yen is down the most (5%) but Cable (up 4.5%) and Euro (up 2.3%) have dragged the dollar red...

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Gold was heavily bid back above its key technical resistance levels...

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The trumpflation trades are all breaking...

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And June rate hike odds are tumbling...

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