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ART CASHIN: Robots May Have Been Responsible For A Rare Synchronization .....
Last week, explained an unusually speedy reactionary stock market sell-off.
Today, he's noting that machines may once again explain an unusual synchronization in the financial markets yesterday.
From this morning's Cashin's Comments:
U.S. stocks spent the balance of the day trying, unsuccessfully to get to one knee. By the close, the uniformity of the negative influence was evident. The Dow was down 1.57%; the S&P -1.54%; Crude -1.6% and gold -1.7%. That’s a remarkably tight uniformity in a group of widely different assets. Such a cookie cutter result suggests the very strong influence of computer trading.