European contagion.
Financials make up only 10% of the S&P 500 today.
About to take out the GFC lows.
13-F liquidations as we head towards negative rates.
Some banks now down ~60% YTD!
Not promising for Wall Street bonuses & overall stocks. pic.twitter.com/XgI3Idywlh
— Otavio (Tavi) Costa (@TaviCosta) May 16, 2020