There is already
Over 200 bln dollar vanished from stocks just yesterday
And it looks like that crisis will be deeper what is not best news for crypto market
The S&P 500 was lower than this 4 days ago. It was a bloody day on the market, sure, but you make it sound like doomsday. We're nowhere near making new lows.
I actually think this momentum might peter out and we'll see another run at the local highs. There's a lot of stops to pop at $2,800 so there's a good chance we'll go there.
If there's a real crash, I agree about crypto though. It definitely won't help.
Looking on a daily basis isn't going to be a good representation of the market momentum. I think stock markets will stay in dangerous zones for a while until there is some further clarity on economic conditions in the USA, especially regarding the trade war with China.
As for crypto, a lot of people seem to have the idea that it is competing with stocks for investment and therefore if stocks crash then crypto will grow, but what they fail to understand as the underlying reason behind stock market crashes are that there are less people willing to invest and that carries over to crypto.