Next round of deleveraging started in $SPX? A massive call for liquidity is opening scary liquidity gaps everywhere. This won't end well.

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it is hard to see upside in when 25 & UST10Y 2.883. When does the next deleveraging start?



Dow falls 350 points as higher rates keep Wall Street on edge

Stocks modestly lower at market open from CNBC.

Stocks fell sharply on Thursday as strong earnings and economic data were not enough to quell jitters from higher interest rates on Wall Street.
The Dow Jones industrial average traded 350 points lower after opening just above the flatline. The S&P 500 pulled back 1 percent after a higher open, with telecommunications as the worst-performing sector. The Nasdaq composite fell 1.2 percent.
The benchmark 10-year U.S. note yield traded at 2.866 percent Thursday, continuing its rise to multi-year highs. The move higher follows the release of strong jobless claims data. Weekly jobless claims hit a 45-year low, totaling 221,000. They fell from 230,000 in the previous week.

A rise in yields Wednesday led to the Dow posting its biggest one-day reversal since August 2015.

h/t @StockBoardAsset

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