It was an insane day on Wall Street today. Zerohedge documented it all, complete with timestamps,
This is how you generate a lot of artificial volatility (all times ET):
12:57pm: Israel on high alert ahead of possible renewed war this weekend: Channel 13
1:03pm: Ghalibaf has resigned as parliament speaker under IRGC pressure: N12 News
1:35 pm: Reports of air defense activation in Tehran: Nour
1:48pm: Israel denies it launched any attack in Iran: Al Araby
2:02pm: Pakistani sources say US-Iran talks are continuing: Al Arabiya
2:05pm: Iran media says air defense in Tehran was a test: Al Araby
2:10pm: Iran reporters deny Ghalibaf has resigned
In the morning, the S&P 500 index touched an all-time intraday high above 7,147. Early afternoon the fireworks began. In 45 minutes the index dropped more than 1 percent before regaining almost the entire amount. It ended up being something on the order of a $1 trillion-dollar (with a “t”) roundtrip swing in about 90 minutes.
The index closed down for the day at 7,108, still one of just a handful of days the index has ever closed above 7,100.
What will tomorrow bring?
