It was all looking so awesome early on...

Stocks were higher in the pre-market, but went panic-bid as soon as the cash market opened, with Nasdaq soaring to Thursday's close - erasing Friday's China retaliation chaos - before legging back lower after running those stops (and CBO headlines)... then things really accelerated lower after The New York Times reported that the FBI has raided the offices of the president's lawyer, Michael Cohen.

Futures show the move best...

But Cash indices ended the day marginally higher (aside from Trannies)

Market gives back all of the gains after not knowing why it had such gains — GreekFire23 (@GreekFire23) April 9, 2018

As The Dow roundtripped over 800 points...

VIX popped back above 22...

Bank stocks gapped open and ran into the green from Thursday's close before rolling over...

FANGMAN stocks all soared out of the gate but TSLA was the first to crack and then the rest saw derisking...

It appears TSLA's squeeze is over...

Bonds and Stocks completely decoupled at around 11amET

Bonds were mixed but as they rallied in the afternoon, 30Y yields went lower on the day, notably flattening the curve...

2s30s tumbled back off pre-rate-hike levels...

But Breakevens tumbled in the afternoon - around when CBO's report hit - along with real yields, dragging down stocks...

The Dollar dropped for the second day in a row, back at one-week lows...

The Peso and Loonie both jumped after Kudlow's comments on a coordinated currency across North America...

But the big headline was the plunge in the Ruble and Russian stocks...

The spread widening on Russian bonds is now more than 70bps on the day, which means this will be the worst day for the Russian index since 2000.

Cryptos tumbled earlier today as the Russian sanctions headlines hit, but stabilized, still up from Friday's close...

Dollar weakness sent commodities higher on the day with Crude best, seemingly gaining after Russian sanctions...

WTI pushed back above $63 and gold topped $1340..

As Gluskin-Sheff's David Rosenberg notes, we are on track for 100 sessions this year with at least a 1% move in the S&P 500. In the past 7 decades, this happened in 1974, 2001, 2002, 2008 and 2009. Hmm...