Dow Suffers Worst Week Since June As Dollar Surges Most In Six Months Tyler Durden Fri, 09/25/2020 - 16:00 A mixed picture in the major US equity indices this week with mega-tech-heavy Nasdaq managing gains (busting a three-week losing streak) as The Dow suffered its worst week since June, S&P and Dow down for the 4th week in a row (longest losing streak since Aug 2019)... But, away from index-land, the media US stock is in bear market, down over 20% year-to-date... Source: Bloomberg A much uglier week for European stocks... Source: Bloomberg The S&P 500 bounced off "unch" for 2020 today... Cyclicals underperformed this week (down the 4th week in a row - longest losing streak since March collapse) Source: Bloomberg Uncertainty around the election continued to rise this week... Source: Bloomberg Treasury yields were all lower on the week with the long-end outperforming (30Y -5bps, 2Y -1bps)... Source: Bloomberg Real yields surged higher on the week, dragging gold lower... Source: Bloomberg The dollar ripped higher this week (5th day higher in the last 6 higher) to its best week since March Source: Bloomberg Notably the dollar rallied to the March low pivot... Source: Bloomberg We note that the net spec positioning across FX futures was extremely short the USD which may explain the week's squeeze... Source: Bloomberg Cryptos were all lower on the week (even with the rally of the last two days) with Bitcoin the least hit and Ethereum worst... Source: Bloomberg Silver was on target for its worst week since Sept 2011 before today's bounce but all the major commodities were weaker on the week amid a soaring USD... Source: Bloomberg The last time silver saw such a drop, it screamed higher... Source: Bloomberg WTI ended lower but managed to hold back above $40... Gold has outperformed silver for 5 of the last 6 days - the biggest weekly outperformance since March... Source: Bloomberg Finally, there's this... Source: Bloomberg And, this seemed to sum things up nicely...