The S&P 500 stock index fell from 4796.56 on January 3, 2022 to 4175.20 on April 25 - or 13% in less than four months.
Aside from the 30% drop after the start of the global pandemic and lockdowns in 2020, this year is already the deepest "correction" since 1976. And one of the fastest losses of investor wealth on record (notably retirement accounts).
Long-term Treasury's lost even more value than the S&P 500 stocks - with the iShares ETF (LTF) dropping 17% this year. NASDAQ stocks fell further still - by 22%.
Unless the vanishing wealth of U.S. households and businesses doesn't matter, these are not hopeful omens for a soft landing.