US BANK INDEX JUST DID SOMETHING FOR THE FIRST TIME SINCE 2008.
And it's a horrible sign for the markets.
KBW Nasdaq Bank Index closed this week in red, making the 6th consecutive red weekly candle.
Last time this happened was in June 2008, and here's what followed next.
- S&P 500 crashed -51% in the next 9 months, while Nasdaq crashed 48%.
- Lehman Brothers collapsed along with other major global banks
- US unemployment rate spiked above 8%.
Right now, bond yields are already at the 2008 recession levels, while the AI boom has started showing signs of crack.
Banks are already trying to offload AI debt, which would put more pressure on AI companies for their financing.
If AI financing slows down, debt refinancing will become harder, resulting in several operations being ceased, and it will aggressively drop AI companies' sky-high valuations, causing a stock market meltdown.
Ukrainian channel "Supernova+" reports that some of the Ukrainian drones used in today's massive attack on St Petersburg flew through Estonian and Latvian airspace.
Earlier, air raid alerts were issued in Lithuania and Latvia following reports of drone flights within their airspace.
Unknown drones being reported simultaneously tonight over Estonia, Latvia and Lithuania, while NATO fighter aircraft have been scrambled over Poland, amid a large-scale Russian attack against Ukraine.
Unconfirmed: During live training at #Wainwright AFB in #Alberta Canada, a projectile hit a live gas well which caused a massive explosion that wiped out every live training house on the base.
Correction to previous post: 150+ are rumoured to have been injured (not killed).
Some disturbing reports that are hopefully unrelated.
A massive drone attack against St Petersburg, and around the same time, an explosion at a Canadian air force base with "significant casualties".
#Russia#NATO#WainwrightAFB
Just looked at Liquid markets. Holy hell, it’s not looking good for a lot of necloud and memory names. Didn’t realize everything was falling in unison. Something feels eerie about this market.