The grim reality that the wealth creation built since the GFC in 2007/2008 is an illusion that can only survive on record low interest rates and insane Quantitate Easing is starting to sink in with the Dow Jones following up the 666 point loss on Friday with a horror 1175 point plunge today.
The trading was so extreme that at one point, as the Dow Jones slumped 1600 points, it was 1% away from the entire stock exchange being shut down.
Once it breached 1000 points, the computers took over and started a mass sell off.
The moment when the market realised that Trumps grand clothes were an illusion will spin the global economy.
The meltdown will hit NZ with higher interest rates on house properties people won’t be able to afford while they watch their Kiwisaver accounts get mashed.
The black swans are all coming home to roost and are being driven in armoured cars.