Big numbers sound scary, but market cap loss is repricing, not cash destruction. Focus on liquidity, rates, and leverage reset to judge if this extends.

But why?
This was not an ordinary fluctuation. It was a structural collapse in the metals and stock markets happening simultaneously.
First, look at the extent of the damage.
Collapse of precious metal prices:
• Gold: − 16.36%, resulting in a loss of 6.38 trillion dollars
• Silver: − 38.9%, resulting in a loss of 2.6 trillion dollars
• Platinum: − 29.5%, resulting in a loss of 235 billion dollars