Ghosts of the 2008 Financial Crisis Haunt the Markets

"As I said about 2008, it is like watching a plane crash," Burry posted on Twitter on May 24. "It hurts, it is not fun, and I'm not smiling." Burry will always be remembered as the man who predicted the collapse of the housing bubble, and also as the person who said the mortgage market was a huge and unsustainable house of cards.
Full of Nervousness and Bad News
All of these messages show the panic and nervousness currently affecting investors. They are desperately looking for a glimmer of hope in a landscape completely weighed down by bad news. Almost all asset classes are affected, even cryptocurrencies including $Bitcoin(BTC.CC)$, which was supposed to be a hedge against inflation.
The S&P 500 is in its seventh consecutive week of decline, its worst streak since 2001. Big Tech stocks such as $Apple(AAPL.US)$ $Microsoft(MSFT.US)$ $Alphabet-A(GOOGL.US)$ $Amazon(AMZN.US)$ $Tesla(TSLA.US)$ $NVIDIA(NVDA.US)$ are in decline despite solid fundamentals. Investors seem confident that companies will start announcing bad news soon.
On the macroeconomic level, the housing market is cooling off: sales of new homes had fallen, with high prices and a big increase in mortgages rates.