TMTB EOD Wrap; PLTR ZI First takes

Well - the good news is that things didn’t end up as bad as they looked in the morning. However, QQQs - 3%, IWM - 3%; ARKK - 5% and BTC - 8%. NVDA finished the day well off its lows at -6% vs being down 12-13% at one point. Yields finished well off their lows and flat to down across the curve.

Vital Knowledge:

What happened Monday – stocks suffered another session of heavy selling pressure as a combination of fundamental concerns (softening growth, stubborn Fed, corporate revenue headwinds, Japanese monetary tightening, Nvidia Blackwell delays, Berkshire’s reduced Apple stake, Google’s defeat in the antitrust search case, etc.) and technical dislocations (aggressive de-risking in response to portfolio pain, busted carry trades, etc.) created a toxic mix for equities.