A really bad day turned into a terrible day in the last hour (Intraday Chart).
The reason, I think, is people wanting to get out of stocks ahead of tomorrows October Jobs Report which will be released before the open at 8:30am EST.
If that number comes in weak, that could spell big problems for stocks. But I expect the government to manipulate it in any way possible in order to at least show a decent number.
Here’s how markets looked today:
Russell (small stocks): -3.97%
Nasdaq-100 (100 largest Nasdaq stocks): -1.87%
S&P Financials (XLF): -5.13%
S&P Tech (XLK): -1.09%