Does the Nasdaq always rebound after a plunge? With tonight’s jobs report, can U.S. stocks stage a dramatic comeback?
U.S. stocks suffered an unusually brutal sell-off on Thursday. The QQQ plunged 6.49% in a single day, the Philadelphia Semiconductor Index tumbled more than 12%, and the VIX fear gauge surged nearly 70% overnight.
In the face of a collapse of this magnitude, some in the market expect a golden buying opportunity to have arrived. Looking back at past steep pullbacks, however, the next market move may still be up in the air. Even before this bloodbath, the sharpest hedge funds had already begun repositioning at any cost.
Tonight at 9:30 p.m. Beijing time, the nonfarm payrolls report is due. The failure of historical patterns, the cards held by institutional whales, and the looming macroeconomic data are pushing U.S. stocks to a critical juncture. After the plunge, will they stage a dramatic comeback—or is this the start of a correction?
U.S. stocks suffered an unusually brutal sell-off on Thursday. The QQQ plunged 6.49% in a single day, the Philadelphia Semiconductor Index tumbled more than 12%, and the VIX fear gauge surged nearly 70% overnight.
In the face of a collapse of this magnitude, some in the market expect a golden buying opportunity to have arrived. Looking back at past steep pullbacks, however, the next market move may still be up in the air. Even before this bloodbath, the sharpest hedge funds had already begun repositioning at any cost.
Tonight at 9:30 p.m. Beijing time, the nonfarm payrolls report is due. The failure of historical patterns, the cards held by institutional whales, and the looming macroeconomic data are pushing U.S. stocks to a critical juncture. After the plunge, will they stage a dramatic comeback—or is this the start of a correction?