Markets flipped fast after the US open and few expected the scale of the move.
In roughly one hour, more than 6 trillion dollars in value disappeared across global markets. The speed of the selloff was the real shock, not just the size.
Precious metals were hit first. Gold saw heavy selling with close to 3 trillion dollars erased from its market value. Silver followed, losing around 790 billion dollars, showing that even assets seen as defensive were used for liquidity.
US equities could not escape the pressure. The S&P 500 dropped roughly 780 billion dollars, while the Nasdaq lost nearly 750 billion dollars as tech names came under broad selling.
Crypto also reacted, with about 100 billion dollars removed from total market value. While smaller in comparison, the move confirmed how tightly crypto is now linked to global risk conditions.
This was not a slow rotation. It was a sudden, synchronized reaction across asset classes, typical of liquidity stress rather than a single piece of news.