Softbank gets no respect
CNBC earlier reported that Softbank was a major call buyer yesterday in AMZN, NFLX, FB and GOOG.
That report has percolated and the thinking is that they were behind the curious and non-stop bid in the Nasdaq yesterday that lifted the entire market. They obviously have limited firepower and they don't get much respect from the market given their fumbles on Uber and WeWork.
So we're seeing the Nasdaq now down 2% and pulling the rest of the market with it.
There's also obviously a lot of uncertainty about Trump and the virus.
