Stocks, Gold, Credit, & Crypto Crushed As 'Hunt For Laggards' Hammers Mag7

US stocks traded lower Tuesday on a day devoid of any major macro or micro catalysts as investors digest the strong returns stocks have realized over the past 8 months. 

Goldman's Ryan Sharkey suggests today's weak price action is driven by a negative combo of:

1/ valuation concerns (‘cautious’ bank CEO commentary)

2/ Negative EPS reactions (PLTR, UBER, SHOP) - theme remains of beats not being rewarded, and

3/ Weak breadth.