“What The F**k Was That?”

While USDJPY notched down and Oil had been slipping, stocks suddenly lurched lower, gapping to yesterday’s lows on heavy volume. As one veteran trader exclaimed “what the f**k was that?” as no obvious catalyst sprung up, unless of course this morning’s series of economic “beats” was sufficiently good to be bad for stocks and raise the dreaded rate hike specter.

Stocks suddenly plunged…

And VIX spiked…

Catching down to crude…

Sending stocks to 2-week lows… back to Japan “helicopter money” levels…

Stairs up, elevator down…