Nikkei Plunges 12% As Carry Trade Unwinds, Silver Drops 6%, VIX Soars
As you've probably already seen by now, we just witnessed an historically volatile night in the financial markets.
The Japanese Nikkei stock index was down 12.4%, as the Yen carry trade continues to unwind. This follows the Bank of Japan's rate hike last week, which occurred shortly before US manufacturing and employment data were well below estimates.
Global stock markets sold off on Friday, and the move has continued into this week's trading. Prompting increased speculation that the Fed might cut rates faster and farther, possibly even prior to their September meeting.
In the midst of the chaos in the Japanese stock market, gold and silver initially rallied, before dropping sharply on Monday morning.
And fortunately Vince Lanci is here to walk us through what happened, and make sense of what to expect in the coming weeks.
To find out more and be prepared, click to watch the video now!
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