For all the talking heads who piled into oil, oil stocks, oil credit, oil tea-cosies, and oil-producer FX... Well that really escalated quickly... WTI Crude's biggest drop since Nov 28th 2014... after Jim Cramer said it "smelled like a bottom." Bit of Deja Vu all over again... But stocks did their best to ignore the "oil's up so everything's fine" narrative until Draghi... As it appears all that mattered was getting into the green YTD to prove how everything is awesome... they managed it until Draghi killed the dream... The Dow outperformed (adding 6 points on the day) as Visa and Disney added around 80 points to the index but we note the late day ramp after Buffet spoke... *BUFFETT SAYS TOUGH FOR FED TO RAISE RATES GIVEN WORLD EVENTS which was then crushed by Draghi... *ECB SAYS IT LIFTS WAIVER ON GREEK GOVERNMENT DEBT AS COLLATERAL And Greek stocks were monkey-hammered Treasury yields traded in quite a wide range on the day looked like closing unch but Draghi sent them reeling lower (still up 10-13bps on the week) The EUR started to dump after Draghi's decision... Lifting the USD into the close... Crude roundtripped but USD strength was ignored as gold and silver limped higher on the day Summing up the day... Charts: Bloomberg