S&P 500 dipped 0.7% on the session, but there's an interesting divergence playing out across global markets. International equity ETFs are showing strength, suggesting money rotation rather than outright risk-off sentiment. Meanwhile, the dollar's cooling off after its recent rally—a bit softer than expected. This dynamic matters: when the greenback weakens, alternative assets including crypto tend to find some breathing room. Worth monitoring how these cross-asset flows evolve.