BANG: US Markets Down Big Again

Here's today's damage:

Symbol	Name	Price		Change	%Change
DJIA	Dow Jones Industrial Average	16544.10		-115.15	-0.69%
S&P 500	S&P 500 Index	1906.13		-22.08	-1.15%
NASDAQ	Nasdaq Composite Index	4276.24		-102.10	-2.33%

For the week, The S&P 500 is down 3.1 per cent to 1,906.13 while the Dow Jones Industrial Average is down 2.74 per cent to 16,544.10.

The technology-heavy Nasdaq Composite declined 4.45 per cent to 4,276.24 in the week.

It should be noted that at the start of the year, my method of calculating annualized 3-month M2NSA money supply growth, which I report on weekly in the EPJ Daily Alert, was as high as 9.1%. Just weeks ago, it was as low as 2.7%. Thus, there simply isn't the money flow into the system to support the capital structure that existed when money growth was at 9.1%.

But do note that money supply growth is very erratic under Yellen and since the break to 2.7%, as I report in the ALERT, there has been a slight uptick in growth.

In other words, brace yourself for a roller coaster ride and greater volatility.