Business

While FANGs cratered in US markets, the turmoil in tech stocks has spread to AsiaPac with Hong Kong down hard as TATS tumble to one-month lows at the open...

Asia's "FANG"  equivalent - accounting for 16% of MSCI Emerging Market Stock index is TATS - Taiwan Semi, Alibaba, Tecent, and Samsung...

All four names are down notably in the last week...

Following the biggest tumble in South Korea Industrial Production (and the first rate hike by Bank of Korea in 6 years), it appears there are no dip-buyers yet. KOSPI is down at one-month lows...

Authored by Kevin Muir via The Macro Tourist blog,

I have often said that as traders, it is not our job to pass judgment on what should be, but, instead, to take advantage of what is. I will try to stick to that mantra when discussing the US tax “reform” package, but I must admit, it’s going to be tough for my feelings to not wiggle through.

As US stock benchmarks smash through one record high after the next – a central-bank driven phenomenon that disproportionately benefits the wealthy at the expense of the middle-class and working poor - booming credit-card debt is forcing more New Yorkers to seek assistance at the city’s food pantries this holiday season, according to a report in the New York Post.

Authored by 720Global's Michael Lebowitz via RealInvestmentAdvice.com,

Submitted by BullionStar.com

A popular phrase in segments of the mainstream financial media is that “You Can’t Eat Gold”. We don’t know who first uttered this comment, but it was more than likely a talking-head or Wall Street analyst on CNBC or Bloomberg.

The disparaging claim seems to be based on concluding that in a financial or monetary crisis, if you own gold, that “You Can’t Eat It”. And so, according to the logic of whoever came up with the phrase, this would make gold useless during a financial crisis.