Crypto and stocks are puking simultaneously this morning...

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Dragging all the US majors into the red for the day...

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The immediate catalyst for this joint-collapse is unclear...

Some suggest it was Bullard's hawkish comments (but he said nothing at all that was not known)

Others suggested it is DoJ headlines about a crypto enforcement action (but that hit the wires a while before this plunge).

A few traders noted that the drop happened as it was reported that Fed Chair Powell has COVID (seriously!)

Still more commented that Morgan Stanley's Mike Wilson appeared on CNBC around that time and unleashed his bearish views on a desperate 'soft landing' narrative-loving audience (but Wilson's comments are not new and simply repeat what he said last week).

Technically, selling accelerated as the S&P 500 broken below its 200DMA...

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And reversed at its downtrend...

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For now, your guess is as good as ours...

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