The plunge could not be stopped by companies reporting better than expected . This also shows strong downward pressure. Comments from companies like TXN don't help either.
High Yield bond spreads gave up and went high which translates into de-risking mood probably.
Here I provide some totally not significant market members insights:
> Smart Money have been selling since february and now the move intensified,
> HFs fear of being closed down as they provided horrible results this year (now, they may have incentives to bet on eveything that moves even if it crawls losing even more money in the process) with their favourite FANG stocks dropping like a rock,
> speculative bets on treasuries are being squuezed out of the all-time low shorts (this will intesify rates moves downward)
PS. Traders are waiting for mysterious Plunge Protection Team to deliver them from evil as everything seems lost