That’s the only way I can explain a day when both stock and bond prices fall. If American investors are selling stocks, they’re usually buying bonds, and vice versa. (They’re not buying bitcoin, that’s for sure.)
So, it should seem obvious that someone outside the U.S. was behind the selling, and who outside the U.S. has a reason to sell the U.S. market? China does. The Chinese Yuan was selling at 6.93 to the U.S. dollar on Oct. 8. On Oct. 11 it was up to 6.9. China is supporting the Yuan by cutting back foreign investment, and that means selling U.S. assets.