Blame The Algos – Stocks Dump After Kudlow Pump

Update: Who could have seen that coming? No immediate news catalyst for this sudden tumble – or did everyone just realize Kudlow’s talk was just that…

Time to blame the algos!!

*  *  *

When in doubt – wheel out Larry Kudlow…

The White House Economic Advisor, under the guise of Plunge Protector, said this morning that:

  • *KUDLOW SAYS U.S. HAS BEEN WARNING HUAWEI ON SANCTIONS VIOLATION

  • *KUDLOW: HUAWEI DOESN’T HAVE TO SPILL INTO TRADE TALKS W/CHINA

  • *KUDLOW SAYS CHINESE CAR TARIFFS WILL COME DOWN RAPIDLY

So don;’t worry about Hauwei, oh and remember how awesome the car tariffs cut will be…

And most notably:

And the result, stocks go vertical…

And the dollar dumps…

Someone please complain about these algos and machines that are ruining our markets… [crickets…]

Let’s see what happens next – after Nasdaq futures were levitated to green.