Reality surfaced once again today, and took the bloated speculative values of some financial assets down in its wake.
Stocks were hammered, going out near the lows. This was the broadest equity selloff since March.
The purported impetus for this action is the re-imposition of lockdowns and other social measures in Europe to control the resurgence of the coronavirus.
The fear is, of course, that such a thing could occur in the US, despite the recent assurances from the White House that victory over the virus has been achieved.
Gold and especially silver were hit fairly hard.
The dollar gained back some ground in the DX index, as a result of weakness in its biggest counter-component the euro.