#MarketTurbulence this week something surprising happened: $1 billion was liquidated in a matter of hours. And all because the U.S. Producer Price Index, PPI, rose a bit more than expected. No, you haven’t made a mistake. It wasn’t an explosion at a mining farm, nor the banning of bitcoin in any state, nor even a tweet from Elon Musk. A number simply came out in the report, and traders lost their minds.

Bitcoin even dropped below $112,000, although not long ago they told us it "wouldn’t go below one hundred thousand." Sure, of course. They also told us that coffee prices wouldn’t go up if wages at Starbucks were increased.