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Market Collapses

By: capt_nemo in ROUND | Recommend this post (0)
Thu, 17 Nov 11 10:54 PM | 50 view(s)
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Submitted by Tyler Durden on 11/17/2011 - 12:42 Italy Recession Reuters

Update: Just out from Reuters which could be causing the plunge: No Plans for Financial Assistance for Italy From EFSF

The ES just fell off a cliff. For now there is no news: some speculation attributes the move to news that the supercommittee has been a catastrophic failure and no decision will be reached, but we knew that. Another reason is attributed to Fed member Sandra Pianalto stating that Europe is heading for a recession but that is not news either. Most likely just a case of HFT stop as technicals get hit as the EURUSD slides and selling begets selling. Yes, it is a "broken market" for a reason. Watch for the blame HFT crowd to come out in force in a few minutes on the financial comedy basic cable stations..

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http://www.zerohedge.com/news/market-collapses




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