Global Panic Continues – Nikkei Down Nearly 17 Percent In Just 7 Trading Days As Gold Shines

Posted by Bill Fleckenstein via

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The global panic continues as the Nikkei is now down nearly 17 percent in just 7 trading days as gold shines.

By Bill Fleckenstein President Of Fleckenstein Capital
February 11 (King World News) – Once again overnight markets were chaotic, with Japan losing another 2% (as the yen strengthened further), Hong Kong falling 4%, and most of Europe declining 3% to 4%. The SPOOs lost about 2.5% in sympathy preopening and the market opened a couple of percent lower, but from there the dip buyers showed up once again to trim those losses to about 1%, plus or minus. (Early on the Dow was doing a little worse than the Nasdaq. Go figure.) Also overnight, the Swedish Riksbank decided to make rates even more negative there, so bad policy continues to beget more of the same…

….read more HERE