Tonight the entire market plummeted, mainly due to this: previously released positive data was suddenly violently revised by the authorities.

For example, May's non-farm payrolls added 144,000 jobs, which was revised down to only 19,000.

June's non-farm payrolls added 147,000 jobs, which was revised down to only 14,000.

This directly collapsed the entire market; no earnings reports mattered.

It's comparable to a project party sending a message saying they will spend 10 million to buy back and pump the price, only to tell you they are putting out 500 U.