What goes up (via free money and practically infinite leverage and rehypothecation) must come down (when the flow slows)... the dominoes are falling...
First Emerging Markets, then US High-yield credit, then US Stocks, and now European stocks...
and remember - this "selling" overseas does not mean "buying" domestically as the majority of these hot money flow trades are credit-funded and merely extinguish the debt at the margin...
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