macro dislocations are driving volatility in risk assets as geopolitical shifts ai shocks and capital rotation reshape market dynamics trump’s re-election fuels dollar strength pressuring emerging markets while nvidia’s $465b crash highlights tech fragility sovereign funds pivot from fixed income to private assets anticipating rate stability technically the s&p 500 faces bearish rsi divergence and momentum rollovers while treasury yields near 4.2% limit policy flexibility liquidity shifts signal potential regime changes amplifying tail risks