"Fundamentals Don't Matter Right Now, It's Panic On The Way Down," Trader Warns
In the wake of yet another dramatic selloff on Wednesday which brought the Dow to the brink of correction territory and kept the market on pace for its worst start to a year in history, investors are getting worried.
A confluence of factors including the continued devaluation of the yuan, plunging oil, and soaring HY risk have brought markets to the precipice and the bears are out in force, with the likes of Albert Edwards calling for a horrific 75% plunge in the S&P.