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Pukefest!

Courtesy of ZeroHedge View original post here.

As Elon Musk made yet more headlines today – by doing nothing today apart from tweeting this…

It appears someone decided he needed to be punished for daring to preserve free speech (oh the horror!) as TSLA shares tumbled over 11% today, raising questions from many on who was behind this move…

As Trey Henninger (@TreyHenninger) detailed, "If $TSLA stock hits $570, Elon Musk will be margin called on his Twitter purchase loan. If that occurs, he'll have two business days to either pay the entire $12.5 billion margin loan, post $3.57 billion USD in CASH, or sell his $TSLAQ collateral shares. So, Soros has to short TSLA to 570 to kill the deal."

TSLA's tumble weighed heavily (given its weighting) on the major indices, with Nasdaq clubbed like a baby seal today, back below March's lows (down 3.5% today)…Nasdaq's worst day since Sept 2020

Erasing all of yesterday's gains and then some…

The Nasdaq and Small Caps are now back below the March lows…

Source: Bloomberg

FANG+ stocks puked to their lowest since September 2020…

Source: Bloomberg

"Most Shorted" Stocks have erased all of the late-March gains and then some are now testing the spike lows from the day Putin invaded Ukraine…

Source: Bloomberg

It appears stocks are starting to converge down to the extreme hawkishness priced in to STIRs…

Source: Bloomberg

"Better get a bucket…"

But it wasn't just stocks as Bitcoin was monkeyhammered back below $40k and below yesterday's lows…

Source: Bloomberg

Gold fell back below $1900 today…

But Bonds & Black Gold were bid amid all the chaos.

Treasuries were bid across the curve today, led by the short-end (2Y-9bps, 30Y -3bps). Notice the pattern was similar today to yuesterday but lower magnitude on the post-EU close selloff…

Source: Bloomberg

WTI traded up, back above $100…

And the dollar just refuses to weaken…

Source: Bloomberg

Now surging to its highest against its fiat peers since May 2020…

Source: Bloomberg

Finally, will Alphabet or Microsoft's earnings spark a squeeze into the 5/4 FOMC/Russia-Default-Deadline?

Source: Bloomberg

As Put volumes soar, stoking the fuel for a squeeze…

Source: Bloomberg

Or does The Fed need a crash to justify jawboning the extreme hawkishness back from the cliff's edge?

The following is a big deal that few are paying attention to – the credit market is cracking…

Source: Bloomberg

(for now)…


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