This Week's US Stock and Crypto Market Review


Within the first half-hour before Friday's close, almost all assets were plunging.
It's not sector rotation, but collective deleveraging.
SOXX dropped 5.9%, the bloodiest among semiconductors.
NVDA followed down 3%, XLK cut 3.9%.
The tech sector was hit across the board, with SPY sliding from a high of 760 midweek to 748, a loss for the week.
What truly exposed the problem was gold.
GLD fell 2.3%.
When safe-haven assets are no longer safe, things become simple:
It's not about rebalancing, but someone getting liquidated.
Crypto markets are even worse.
BTC dropped 4.6% in 24 hours to 60.8k, ETH was cut by 8.4%, SOL followed down 5.8%.
Crypto and stocks both jumped, risk assets being drained indiscriminately.
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