According to The Kobeissi Letter, the S&P 500 experienced a historic sell-off from Wednesday to Friday, losing $100 billion per trading hour, amounting to a total of $2 trillion. Following the market closure on Friday, S&P 500 futures further declined by $120 billion within minutes. This unprecedented downturn has significant implications for traders, highlighting increased market volatility and potential risk management challenges.

According to The Kobeissi Letter, the S&P 500 futures are set to open 55 points lower, leading to a total market value decline of $700 billion since their pre-market high. This significant drop suggests heightened volatility and potential trading opportunities in the market.