Unleash hell...

And this...

Worst Start To A Year... Ever!

It's ugly in 'Murica...

Of course - it's not just US, China has collapsed this year... (Worst start to a year ever)

Japan was a shitshow..

And Europe is in a bear market having erased all of the Q€ gains... (Worst start to a year ever)

The day in stocks...

The week in stocks... worst 3-week drop in S&P, Dow, Trannies, Small Caps, and Nasdaq since Aug 2011

2016 in stocks...

Since The Fed rate-hike in stocks...

Since The Fed across asset-classes...

Since the end of QE3 in stocks...

It's a bloodbath in FANGs and Biotechs...

FANTAsy stocks are really ugly year-to-date (cap-weighted FANGs are down 12% YTD, Biotechs -17%)

Surprise - Equity markets catch down to on balance volume...

Financials bloodbathery fell to catch down to credit...

On the week, credit remains the leader...

But credit signals more pain to come... in stocks...

Especially in the most credit-sensitive small caps...

And VIX...

With Energy credit risk at its highest on record...

Carnage Continues, Energy Yields Set Record High

(Bloomberg) -- WTI oil has dropped to a new 12y low, falling below $30/bbl, triggering a broad sell-off across asset classes, with equities dropping 2.6%, HY ETFs falling 1.6% (lowest levels since 9/09), HYCDX slipping 1.1% and cash bonds falling across sectors led by oil companies in the Energy sector.

The BofAML U.S. HY Energy index YTW set a new historical high last night closing at 17.43%, surpassing the 17.048% close on 12/5/2008 during the height of the financial crisis

As of Wednesday’s close, the BofAML U.S. HY Energy index option adjusted spread to Tsys closed at +1,501, eclipsing the previous wide level seen at the height of the crisis of +1,494 on 12/5/2008

Energy bonds were roiled led by Sanchez Energy which plummeted 32% intraday followed by EP Energy (-15%), Whiting Petroleum (-13%), and Oasis Petroleum (-11%)