Reply To: Market Wrap – Twitter Wars Live with Elon Musk and Jeff Bezos May 16, 2022


S&P 500 futures 0.8% below fair value; Nasdaq 100 futures 1.4% below fair value; DJIA futures 0.3% below fair value

Key factors driving futures:

Inability to sustain rebound tries weighing further on investor sentiment
Some stablecoins (Terra and Tether) break dollar peg, fueling a run on the crypto bank so to speak that has led to collapse in cryptocurrencies and concerns about spillover to other risk assets
Rising geopolitical tension as Russia threatens need to respond if NATO expands (Finland saying it should join NATO without delay) and says NATO arming Ukraine risks wider conflict
Heightened concerns about global growth slowdown