Tuesday June 9 the S&P 500 fell 1.52% and the Nasdaq dropped 3.3% - the tech sector fell more than 5% while six defensive sectors advanced - as Trump swung from "deal in two or three days" to strike threats and the US prepared fresh kinetic strikes (executed after the close). VIX rose 8.09% to 20.45. A war-flow rotation, not an earnings or demand signal.