Korea was up six percent before lunch, so hard the exchange stepped in and slowed the buying down. Japan was up over a thousand points. By the closing bell Korea was up zero point seven three percent and Japan closed red. The melt up lasted one morning. India never got invited, and it did not matter, because India had a problem of its own and it was a barrel of oil and a rupee.

The board. Nifty 50 at 23,996.25, down 191.45. Sensex 76,755.05, down 715.06. Bank Nifty 57,126.80, down 708.55. India VIX up 5.49% to 13.29. Third down session and the steepest of three. Breadth was worse than the headline: only 10 Nifty 50 stocks rose against 40 that fell, 14 of 16 sectors closed red, and IT fell 1.50% while Infosys alone fell 1.99% into its own result, TCS only 0.58%. The market did not sell IT, it sold one company into its print, and that company ...