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Cathie Wood wanted to buy the dip but became exit liquidity.
Her ARKK fund is now down $40 million on its SpaceX $SPCX holdings.
Time to buy the dip again?
UNAFFORDABILITY IS KILLING THE U.S. HOUSING MARKET.
Sellers now outnumber buyers by 48.5%, the widest gap on record.
There were nearly 1.5 million sellers in the market in June, but only about 1 million buyers.
In Miami, Nashville, and much of Texas, sellers outnumber buyers 2 to 1.
Buyers haven't disappeared because they don't want to buy.
Home prices and mortgage rates are so high that most people simply can't afford to buy anymore.
The few who still can are now in control. They can push prices down, ask sellers to cover closing costs, and walk away from any deal that doesn't work in their favor.
📊S&P 500 PROFIT FORECASTS SURGE 32%, THE FASTEST GROWTH SINCE THE 2008 FINANCIAL CRISIS
Wall Street now expects $373 per share in earnings, a pace only seen twice before and both times after a crash.
The only times growth hit this level were after forecasts crashed 38% in 2008 and 22% during COVID.
This time they barely dipped 6%.
🚨 HUGE crash in Asian Markets.
Over $970 billion has been wiped out from Asian stock markets today.
🇯🇵 Japan: $350B erased (51 trillion yen)
🇨🇳 China: $360B erased (¥2.6 trillion yuan)
🇭🇰 Hong Kong: $110B erased (HK$860 billion)
🇹🇼 Taiwan: $140B erased (NT$4.1 trillion)
🇦🇺 Australia: $10B erased (A$15 billion)
Nearly $1 trillion has been wiped out across Asia in a single trading session.
ANOTHER CIRCUIT BREAKER HAS JUST BEEN TRIGGERED IN SOUTH KOREA. 🚨
₩450 TRILLION has been wiped out as the KOSPI crashes 7.68%.
The Korean stock market has now erased ₩2,400 TRILLION from its all-time high.
🔥 BULLISH: BlackRock CEO Larry Fink says excessive leverage in Bitcoin and crypto has been washed out, bringing greater stability at current levels.
He added that he is “very bullish” on markets over the next 12 months.
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