S&P 500

S&P futures have tracked both European and Asian markets lower, which were dragged down by the big EPS miss and guidance cut reported by Amazon on Thursday. Meanwhile, the pounding of the dollar has resumed with the euro and sterling strengthening against the dollar due to renewed political concerns after this morning's stunning failure by the Senate GOP to pass a "skinny" Obamacare repeal after John McCain sided with democrats.

Authored by Michael Snyder via The Economic Collapse blog,

DoubleLine Capital's Jeffrey Gundlach tells Reuters that his firm bought some five-month put options on the S&P 500 a couple of days ago after VIX fell to lowest since December 1993.

“This is like free money,” Jeffrey Gundlach said in phone interview with Reuters, noting that "we lost money the first day we put on the trade, but now we are doing great."

No fundamental catalyst for today's tech wreck (just as there wasn't last time), but many people noted the coincdental timing of JPM's Kolanovic note on Vol fragilities coincided with the start of the pain...

Liquidity collapsed leaving many to think...

While nobody knows what catalyzed for the sharp selloff over the last hour, with Citi blaming it on Acrophobia, or fear of heights, saying  that "US equities opened at record highs, key levels were being approached in fixed income while USD enjoyed a bid across the board... However since then, it looks like markets have gotten a small case of cold feet", Bloomberg had a different idea, when it observed that stocks erased gains around 12:30 p.m. as S&P 500 fell 0.5% over 60 minutes to low of 2,469.51.