Edward Dowd says violent, unprecedented moves are unfolding beneath major market indexes, masking unusual internal stress. He points to the yen at a 1986 low an

Edward Dowd says violent, unprecedented moves are unfolding beneath major market indexes, masking unusual internal stress. He points to the yen at a 1986 low and semiconductors plus tech hardware contributing 820 bps of the S&P 500’s YTD return.