Prior to last week, one of the things that had stood out to me about this year's market correction was how orderly it had been. Despite a significant war being added on top of what was already a substantial decline, markets hadn't sold off in a way that felt like fear or capitulation.

We finally got a little of that last week, with back-to-back days of selling on huge volume. Volatility has been elevated, but not dramatically so given everything going on in the markets (and the globe). On the equity side, despite the losses, there haven't been any big alarm bells.

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