All good things ultimately must come to an end. The S&P 500 had not fallen 2% in 356 days, until today, as a confluence of events led to an acceleration of the risk off/ rotation that have been in the markets since July 17th. By the end of today, the S&P 500 closed -2.31%, Nasdaq -3.64%, Semis -5.41%, Mag 7 -5.33%... you get the point. Perhaps more worryingly is that the major indexes (except the Russell 2000) also closed below their 50-day moving averages, as the calendar heads into month end…
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