Market collapse (9:05 a.m. CT) -- if one can consider a 1.8% drop a "collapse." LOL.
- pre-market, Dow down as much as 630 points
- shortly after market opens, down about 500 points now (9:05 a.m. CT)
- and, now, right on cue, it's being reported that the purported cause for the market collapse -- the Chinese real estate bubble -- might be addressed by either other Chinese players and/or central banks
- WTI already recovering a bit
Travel restrictions: Biden will loosen. Huge story. But you will need to be fully vaccinated to go to London. Travelers, movers, shakers, the elite fully vaccinated (or have forged documents saying they are fully vaccinated).
For the archives:
- US equity market down two percent in pre-market trading
- WTI: $70.71
- DXY: 93.332, up 0.090; rush to safety?
- TYT: 1.318%; yawn; down 0.053%
Definition of irony: shortage of carbon dioxide. I cannot make this up. Reported previously but in the news today. Over at twitter:
Solar: this is absolutely one of the least important stories this year, maybe this decade, but it's a great "educational" story. World's longest-operating solar thermal facility is retiring most of its capacity. Link to EIA. Will likely post as a stand-alone.
Norway to the rescue: will raise gas exports to Europe.
Norway will allow state-controlled Equinor and its partners to increase gas exports from two offshore fields for the next 12 months amid concerns over a shortage of European gas supplies that have sent prices soaring. The increase corresponds to nearly 2% of Norway’s annual pipeline gas exports. Link here.
The front-month gas price at the Dutch TTF hub, a European benchmark, has more than tripled this year to record levels, driving up power prices as the winter heating season approaches with below-average levels of gas in storage.
Asia: outbidding Europe for natural gas. That's the main reason Europe is in such trouble. Link to Bloomberg.
Hunger games: Hollywood. Link here.
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Crafty
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