Night of Terror: US Chips Evaporate $1T, Crypto Sheds $200B Last night, both Wall Street and crypto went straight to hell, with Bitcoin breaking below $60K for the first time since Oct 2024. 🩸BTC: Bottomed out at $59.1K on June 5, down 19.3% in 7 days. 🩸Liquidations: $1.75B wiped out from 351K traders in 24 hours. 🩸ETH: Hit a 13 month low around $1,540. 🩸Market Cap: Lost about $200B (now recovering slightly). The Tech & Chip Slaughter: 📈Indexes: S&P 500 -2.6% (snapping a 10-week win streak); Nasdaq -4.2%. 📈The Hit: Semiconductor sector alone blew up over $1T in value. 📈Big Losers: Nvidia -6%, Micron -11%, Broadcom -19% (across two sessions). The Irony? Good news triggered the panic. May payrolls crushed expectations with 172K new jobs (vs 80K expected), and unemployment held at 4.3%. A strong labor market means the Fed has no reason to cut rates. Consequently, 10 year Treasury yields spiked near 4.5%. Expectations have completely U turned toward rate hikes. BNP Paribas is already predicting 3 hikes starting this December. Just months ago, the market thought rates would hold steady through 2026. Adding to the pressure, investors are aggressively raising cash for SpaceX massive $1.75T IPO next week. Anyone wanting in is dumping AI, chip stocks, and crypto to get liquid. How did your portfolio hold up? Did anyone manage a safe landing last night?