Too many people are looking for complicated explanations to the 3-44% fall in US stock markets. I suspect the major driver is quite simple and has to do with the dynamic I've been posting about for the last week: In the run up to the end of a quarter that has featured large losses and illiquity, "fast money" buys/covers shorts ahead of re-balancing inflows at the end of the month ... and then immediately gets out/goes short at the very end of the month. Both the price action and the volumes shown below are consistent with this explanation. #markets #stocks #stockmarket #investmentmanagement #volatility #investing #selloff #equities #economy …see more