According to @KobeissiLetter, the S&P 500 erased early gains and fell about 50 points within roughly 40 minutes after the U.S. open, flipping the session negative, source: @KobeissiLetter, Nov 21, 2025. @KobeissiLetter described the move as another flash crash driven by sentiment-based swings, signaling fragile risk appetite at the open, source: @KobeissiLetter, Nov 21, 2025. For crypto markets, traders can monitor BTC and ETH for potential spillover volatility during U.S. hours and adjust exposure around rapid equity risk-off turns highlighted in this report, source: @KobeissiLetter, Nov 21, 2025.