If I have to explain the logic behind the Nasdaq's sudden drop over the past two days, I think it's most likely because of the SpaceX IPO being moved up + Google's $80 billion fundraising for infrastructure + Microsoft's financing plans + Meta planning another round of fundraising. These events happening all at once basically drained $550 billion in liquidity instantly. But so far, only $170 billion has actually been pulled out. Most of the remaining liquidity might come back next week, and the market will bounce back.