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Here's What Traders Are Saying About Today's Freak Selloff
It came out of nowhere, and once it hit, it was fast and furious and eerily reminiscent of the liquidation-driven meltdowns observed in December 2018. Today's freak selloff, which peaked just as Europe closed at 1130am ET (suggesting a European fund may have been behind the violent move), saw a surge in activity, focusing primarily on those momentum names that had soared in recent weeks on a flurry of call buying such as Tesla, Virgin Galactic, Plug Power, and the FAAMGs of course. And while it is still unclear what triggered the selling, we do know that once the avalanche started, it was straight down, as the NYSE ... (full story)