There are craters and then there a crashes. Today nothing is not correlated and there is something big happening tonight, apparently starting with the crypto markets.
Bitcoin is down over $3000 and very little evidence it has any support at almost 6 p.m. ET:
This is going to leave a mark, but in this author’s opinion, this is due to the bankruptcy of Evergrande and other Chinese property funds facing the same fate. In other words, the Asians are short of dollars and selling anything not nailed down to the floor to raise cash.
Treasuries, gold, US equities, and yes, “gasp” even $AAPL are next.