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Happy Monday Zingernation! Well, I don’t really know how ‘happy’ of a Monday it is, but it is Monday nonetheless! Things are getting a little ugly out there, and there are a few explanations why. But, as bad as my portfolio is looking, there could be some light at the end of the tunnel after all.

—Aaron Bry & Nic Chahine

Plus, if you’re looking to take your option trading to the next level, check out today’s partner, CBOE.

MARKET SNAPSHOT

Last Week: Selling begets selling and a wide-range downturn in the market brought us to the lowest levels on the S&P 500 since June. Bitcoin got crushed over the weekend, trading down around 20% to $50,000 a coin.

On Our Radar: Whether it’s the Japanese Yen carry trade, geopolitical fears, U.S. recession worries or whatever else, the market is getting absolutely smoked. We’ll see if buyers come in and try and take advantage of the flash sale on big-name tech stocks like Apple, Tesla and others.

TOP STORY

Nasdaq, R2K Futures Tumble Over 4%, VIX Spikes Over 100%

Basically: The stock market is on track to gap-open sharply lower on Monday as negative sentiment seen in the final two sessions of last week has carried over into the new week.

Basically: The index futures were all sharply lower, with the Nasdaq 100 down over 4% and volatility has spiked, with the CBOE Volatility Index, aka VIX, up over 100%. Asset classes plunged across the board amid worries over a hard landing in the U.S., which in turn may have a cyclical effect on the rest of the global economies as well. Here are the three main factors driving the market significantly lower to start the week.

PRESENTED BY CBOE

FIVE ZINGERS

Today In Cryptoland: Bitcoin is sitting at a very important technical level, right at $50k. But what about Ethereum and other coins in the space?

The Elevator Down: People say that stocks take the stairs up, but the elevator down. NVIDIA is now on track to shed 20% of its total value in one week.

Elon’s Big Problem: Musk admitted that cheaper models from Tesla competitors are a problem, but explained why he’s not worried long term.

Can Superheroes Save The Day?: Could strong box office numbers for Deadpool & Wolverine be enough to save $AMC’s stock?

The Gold Standard: As virtually everything else sells off, gold made a nice move and is sitting near its all-time highs.

ONE FOR THE ROAD

Fed May Be 'Bullied' Into 50 BPS Cut In September, Says Mohamed El-Erian, As Global Markets Melt Down

Basically: Stocks across the globe swooned on Monday, as the weakness seen late last week carried over, with some of the Asian markets already falling into correction territory. Economist Mohamed El Erian on Sunday weighed in on the implications of the market sell-off for the monetary policy.

What Happened: The implied probability of a 50-basis-point cut by the Federal Reserve in September has “suddenly surged from essentially de minimis to some 80%,” said El Erian in a post on X, formerly Twitter. Here are the stocks and sectors that would benefit from the rate cut.

PRESENTED BY CBOE

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