A 1.66% drop on SPY sounds like an orderly market retreat until you look at the absolute carnage under the hood.
High-volatility favorite Vertiv ($VRT) collapsed 17.2% and Micron ($MU) lost 10.5%, demonstrating that "buying the dip" is a painful strategy when the macro pool is actively draining. Today, 143 different large-cap names moved more than 3%. Our database shows that in 36,415 similar instances of high-volatility days, these extreme movers closed red 51% of the time, meaning the odds of a late-day miracle rescue are about the same as calling heads.
The market didn't break today; it just behaved exactly like the historical data predicted.