Stocks Stage Feeble Attempt At Dead Cat Bounce After Losing $1.3 Trillion In One Day | ZeroHedge

US index futures staged a feeble, fading attempt to bounce on Tuesday, following Monday’s crash that wiped out $1.3 trillion in market cap and topped a furious 4-day selloff that was the worst since March 2020 and culminated in a bear market amid expectations – even from permabull Goldman – that the Fed’s now accepted 75bps rate hike on Wednesday will hurl the economy into a recession

UBS said most long-term owners are now in the red and warned of more losses if coin miners buckle under the pressure and start selling.

digital assets did not escape the wrath of plummeting risk sentiment, with bitcoin falling -15.13% and down another -5.28% this morning as we type. At one point this morning, Bitcoin fell about -10% to trade at $20,823 before recovering a little. There were reports that some exchanges were having trouble liquidating holdings of various crypto assets. This is a classic deleveraging and unwinding of a bubble trade.

Stocks Stage Feeble Attempt At Dead Cat Bounce After Losing $1.3 Trillion In One Day | ZeroHedge