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Report

US stock market loses hundreds of billions in sharp intraday selloff on October 1

US equities fell sharply on October 1, 2026, with $550–700 billion erased in 1–2 hours. The Dow, S&P 500, and Nasdaq posted modest declines (0.2–0.5%), extending September weakness. Weaker ISM PMI and stronger jobless claims (197K) sent mixed signals on growth and Fed easing.

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6 Sources, 3h ago, first seen 3h ago

TLDR

High valuations in tech and AI make stocks sensitive to rising discount rates from Treasury yield increases. These rapid, billion-dollar intraday swings highlight macro crosscurrents between strong labor data and inflation concerns, amplifying investor fear cycles. September saw the S&P 500's worst month since June, with 78% of stocks down, and markets remain volatile around AI spending and policy expectations.

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104.3K

6 Sources, first seen 3h ago

1.8K likes331 comments221 saves178 reposts
Featured Source

Combined views

104.3K

6 Sources, first seen 3h ago

1.8K likes331 comments221 saves178 reposts

Sentiment

Positive——Negative

Summary

Not enough discussion yet.

No sentiment analysis available yet.

Sentiment

Positive——Negative

Summary

Not enough discussion yet.

No sentiment analysis available yet.

6 Sources

@0xSweep🚨HUGE DUMP: $670 Billion wiped out from the US stock market in past 1.5 hours Meanwhile Bitcoin is still holding above $84K Liquidity rotation is happening here
@kay_drake_🚨US jobless claims just fell to 197K, coming in below 200K expectations. Strong labor data means fewer reasons for the Fed to rush into cuts. But markets got hit from the other side a weaker ISM PMI helped wipe around $550B from US stocks in just 25 minutes. Macro is pulling in both directions right now.
@carlmoon🩸BIG DUMP: $700,000,000,000 erased from the US stock market in last 100 minutes. TOO MUCH WINNING.
@TimmerFidelityWhat happens to equities if yields continue to rise? The simple answer is that per the DCF model the present value of future cashflows will decline, all else being equal. Fortunately, all else is not equal and earnings are booming. That means that the stock market can withstand a P/E derating without causing a bear market. Remember that in 2022 the P/E ratio fell 33% while earnings only grew 8% (and were decelerating from the post-COVID recovery). The result was a 28% bear market entirely driven by contracting multiples. I fear that a milder repeat could lie ahead if this bond bear market continues. Again, as long as earnings keep growing at double digits, the damage to price could be modest. For instance, per the Fed model below (which compares equity valuation to bond valuation), if the 10-year yield rises to 6%, that suggests an equity P/E ratio of 16x. It is currently 19-20x. A 4-point drop in the P/E ratio is a 20% valuation haircut, but if it’s offset by 30% earnings growth, we could be spared the kind of drawdown we experienced in 2022. Maybe a 2022 echo or aftershock. 🧵(1/2)
@BullTheoryioSeptember made no sense. Stocks barely moved, bonds had their worst month in years, and crypto had its best month in 8 months. Here's how everything played out: 1. S&P 500 fell -0.59% but overall 78% of S&P 500 stocks fell in September. 2. Fed hiked rates by 25 bps, yet Nasdaq gained +3.9% during the month, and hit a new ALL TIME HIGH. 3. AI was holding the U.S. markets up, adding $1.7 TRILLION in market value since August end. 4. Bonds were where the real September crash happened. 5. US 10-year Treasury yield reached its highest level since 2002, up 54 basis points alone this month. 6. US30Y hit a new 22-year high at 5.612%. 7. The US Treasury spent $5.1 billion in long term bond buybacks. 8. Volatility in bond markets spiked, MOVE Index, the VIX for Treasury bonds jumped nearly 30% this month. 9. WTI crude crossed $106, its highest in 4 months. 10. Crypto has outperformed all the global stock markets, up 12.55% despite the CLARITY Act failing. Total Crypto market cap reclaimed $3T for the first time in 8 months. 11. BTC reached $87000, and ETH crossed $2,800 giving their highest monthly close in 9 months.
@TedPillows$640,000,000,000 wiped out from the US stock market in the last 2 hours. Rising yields and a strong dollar are now making investors nervous about holding stocks.
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    6 Sources

    @0xSweep🚨HUGE DUMP: $670 Billion wiped out from the US stock market in past 1.5 hours Meanwhile Bitcoin is still holding above $84K Liquidity rotation is happening here
    @kay_drake_🚨US jobless claims just fell to 197K, coming in below 200K expectations. Strong labor data means fewer reasons for the Fed to rush into cuts. But markets got hit from the other side a weaker ISM PMI helped wipe around $550B from US stocks in just 25 minutes. Macro is pulling in both directions right now.
    @carlmoon🩸BIG DUMP: $700,000,000,000 erased from the US stock market in last 100 minutes. TOO MUCH WINNING.
    @TimmerFidelityWhat happens to equities if yields continue to rise? The simple answer is that per the DCF model the present value of future cashflows will decline, all else being equal. Fortunately, all else is not equal and earnings are booming. That means that the stock market can withstand a P/E derating without causing a bear market. Remember that in 2022 the P/E ratio fell 33% while earnings only grew 8% (and were decelerating from the post-COVID recovery). The result was a 28% bear market entirely driven by contracting multiples. I fear that a milder repeat could lie ahead if this bond bear market continues. Again, as long as earnings keep growing at double digits, the damage to price could be modest. For instance, per the Fed model below (which compares equity valuation to bond valuation), if the 10-year yield rises to 6%, that suggests an equity P/E ratio of 16x. It is currently 19-20x. A 4-point drop in the P/E ratio is a 20% valuation haircut, but if it’s offset by 30% earnings growth, we could be spared the kind of drawdown we experienced in 2022. Maybe a 2022 echo or aftershock. 🧵(1/2)
    @BullTheoryioSeptember made no sense. Stocks barely moved, bonds had their worst month in years, and crypto had its best month in 8 months. Here's how everything played out: 1. S&P 500 fell -0.59% but overall 78% of S&P 500 stocks fell in September. 2. Fed hiked rates by 25 bps, yet Nasdaq gained +3.9% during the month, and hit a new ALL TIME HIGH. 3. AI was holding the U.S. markets up, adding $1.7 TRILLION in market value since August end. 4. Bonds were where the real September crash happened. 5. US 10-year Treasury yield reached its highest level since 2002, up 54 basis points alone this month. 6. US30Y hit a new 22-year high at 5.612%. 7. The US Treasury spent $5.1 billion in long term bond buybacks. 8. Volatility in bond markets spiked, MOVE Index, the VIX for Treasury bonds jumped nearly 30% this month. 9. WTI crude crossed $106, its highest in 4 months. 10. Crypto has outperformed all the global stock markets, up 12.55% despite the CLARITY Act failing. Total Crypto market cap reclaimed $3T for the first time in 8 months. 11. BTC reached $87000, and ETH crossed $2,800 giving their highest monthly close in 9 months.
    @TedPillows$640,000,000,000 wiped out from the US stock market in the last 2 hours. Rising yields and a strong dollar are now making investors nervous about holding stocks.
    Today's Rank

    #2

    Today's Rank

    #2