The Stock Markets Are Holding, Except China's Down.

This is the European market versus the S&P versus the China. Most of the chart is right. Does that look like a bank run to you? No, not at all. Not even close. And really, BGK is up five and a half percent. That's not enough to save the IP, IPO pipeline for somebody like SVB. Spack bubble is over. It's over. Right.