PremiumDire Straits No More...?
Tl;dr: There was blood in the streets as futures opened last night with oil up 25-30% (depending on regional measure), stocks puking, dollar safe-haven panic bid, and TSY yields surging as everything was sold to cover margin calls and de-gross. Chatter of a coordinated SPR release (that failed to actually appear) prompted some calm to return and with the help of retail and 0-DTE traders, the machines lifted stocks back to unchanged, oil plunged back to unchanged, bonds were bid to unch, dollar fell to unch.
All of which prompted one bright spark from a Manhattan trading floor to remark to us: "do these fucking idiots think it's over? ... did [they] turn oil into a meme stock?"