re: Dow Jones down 666. Well that can't be good ! Nasdaq down 300+. Meta down 14 %.

Graph includes:
10 year yield
WTI
SOFR

Corporate spreads are falling despite P&L bloodbaths in small caps and deteriorating growth in large caps. I'm not sure there's any real impact outside of the financial sector alla REPO and savers. Long duration rates are tracking tightly with WTI which makes more sense since that's going to impact growth and inflation expectations. I guess there's a strong argument that it has sucked up captial from the private sector which is deflationary.