What goes up, must come down. The Dow Jones reversed yesterday's gains with a 458 point drop overnight (-1.5%), while the Nasdaq dropped 2.8%. SPI Futures are only down 22 points this morning, hoping to escape some of the damage. 

• ASX 200 SPI Futures down 23 points.
• Dow reverses gains from Wednesday falling 458 points (1.5%) off low of down 686.
• Nasdaq drop 314 points (2.8%) Tesla and Apple hot hard.
• S&P 500 down 79 points (2.1) VIX back up 5.5%
• Commodities better. Nickel up 5.3% on LME moves against Russian exports.
• Oil flat. Gold flat. US yields better. 30 year mortgage rate hits 7% , first time since 2008.
• Iron ore unchanged.
• NSW Public Holiday Monday and quarter end.

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