U.S. stocks shed about $1 trillion in a day—the CPI aftershock is still hammering risk assets.

Inflation is running hot, rate-hike expectations are rising, the Nasdaq is sliding, and gold and silver are wobbling too. Crypto is an even bigger liquidity exit: after $BTC lost a key round-number level, stop-losses rang out all night.

A 985 graduate waiting to break even: when the macro picture turns, the break-even point only gets farther away. Don’t rush to translate “it’s down” into “time to add.” First figure out whether leverage is still being flushed out.

Do you think this is a brief pullback, or will risk appetite stay cool for a while?
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