Bloomberg reports: “The S&P 500 has closed more than four standard deviations below its 50-day moving average for the third consecutive session. That’s only the second time this has happened in the history of the index.” Further, according to Bespoke Investment Group, “Not even the crash of 1987 got this oversold relative to trend”.
The declining prices of stocks and commodities raise serious questions of whether we are going into another crisis similar to the one in 2008.