tldr fiat doing fiat things ... But

it started at the end of last week with the FED not dropping rates, jobs, unempr, and earnings doing poorly

then Japan tried to raise their rates by .25% for the first time and everyone has been using the yen for tomfoolery... those trades began to unwind which caused mayhem all over that we are now feeling 

General sentiment is fed should have dropped rates by a lot and that they're late again  

 We always knew the Fed would be late. They've never ever pulled off a "soft landing", but all the mainstream economic pundits told us that this time it's different.  So much hopium from the fiat ponzi promoters as usual.  

 This I feel is true but the dominance of passive strategies has amplified the volatility and is the underlying structural issue why the markets are high and distorted in the first place