Category: Market Shocks
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The 90-Day Tariff Pause: Markets Whipsaw on Policy Reversal
A single social media post triggers the third-largest rally in S&P 500 history as Trump pauses the tariffs that had pushed markets to the brink of a bear market. Why the bond market forced the reversal, and what remains unresolved.
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Liberation Day Tariffs: Markets Plunge on Sweeping IEEPA Tariffs
Khan Capital | April 2025 Key Takeaways Track all markets on TradingView On the afternoon of 2 April 2025, President Donald Trump stepped into the White House Rose Garden and signed Executive Order 14257, invoking the International Emergency Economic Powers Act to impose the most comprehensive set of import tariffs in over a century. He…
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August 5 Flash Crash: The Yen Carry Trade Unwind That Shook the World
The Nikkei crashes 12.4% in its worst day since 1987 as a 15-basis-point BoJ rate hike triggers the violent unwinding of an estimated $250-500 billion in yen carry trade positions. A masterclass in how hidden leverage and crowded trades can destabilise global markets.
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First Republic Bank Seized and Sold to JPMorgan
The second-largest bank failure in US history closes the acute phase of the 2023 banking crisis as JPMorgan absorbs First Republic’s $173 billion loan portfolio. Why the system survived but the competitive landscape has been permanently altered.
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Credit Suisse Emergency: UBS Forced Merger and AT1 Bond Wipeout
UBS acquires Credit Suisse for $3.2 billion as FINMA wipes out $17.2 billion in AT1 bonds, inverting the creditor hierarchy and sending shockwaves through the global CoCo market. What the largest AT1 loss in history means for bank capital markets.
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Banking Crisis 2023: Signature Bank, Silvergate, and Contagion Fears
Three US banks fail in five days as the crypto-banking nexus, interest rate risk, and social media-accelerated runs converge in the most acute banking panic since 2008. How the Fed’s emergency BTFP backstopped $600 billion in unrealised losses.
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Silicon Valley Bank Collapse: The Fastest Bank Run in History
The largest US bank failure since 2008 unfolds in 48 hours as $42 billion in deposits flee SVB in a single day. How a duration mismatch, social media-accelerated bank runs, and $600 billion in unrealised losses reshaped the banking landscape.
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UK Mini-Budget Crisis: When Fiscal Policy Breaks the Bond Market
£45 billion in unfunded tax cuts triggers the most violent gilt market sell-off in modern history, a pension fund margin call cascade, emergency BoE intervention, and the fastest fall of a Prime Minister in British history. A masterclass in how fiscal policy can break a bond market.
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Archegos Capital Collapse: The $30 Billion Margin Call
Khan Capital | March 2021 Key Takeaways On Friday 26 March 2021, banks began liquidating billions of dollars’ worth of stocks after a single client, Archegos Capital Management, failed to meet margin calls on its leveraged equity positions. By the time the fire sale was over, ViacomCBS had lost 27% of its value. Discovery plunged…
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GameStop and the Meme Stock Revolution: Reddit vs. Wall Street
A Reddit forum, a dying retailer, and 140% short interest collide in the most extraordinary retail-versus-institutional market confrontation in modern history. How options mechanics, social media coordination, and commission-free trading reshaped the balance of power.