USD bulls are turbo charged. DXY is currently at 102 and about to take out its 2017 high of 104. After that the challenge is 2002 highs of 118. All currencies are being eviscerated by the dollar. GBPUSD crashed below its brexit lows fast approaching parity. It seems the dollar shortage is of an unprecedented scale making the earlier dollar weakness in March a fake out.
Hedge funds, central banks, banks, corporates and governments alike are scrambling for USD. Cross currency swap spreads (against all majors) are widening by the day indicating the liquidity shortage is a global phenomenon.
Copper which acts as a good proxy for global economic growth is tanking heavily poised to go below $2. GFC low was $1.243. If it gets anywhere near that low then it is likely the global economy as a whole will contract for 2020.
S&P VIX gauge may have peaked on Monday at 85 just shy of the GFC high of 89.5.
The main purpose of the stock market is to make fools of as many people as possible.