The 'Sell America' trade has been gaining steam lately, but here's the thing — traders aren't just dumping US assets. They're offloading almost everything across the board. Markets are showing signs of broader liquidation pressure rather than a focused rotation strategy.

What started as a tactical play against specific sectors has morphed into a more indiscriminate sell-off. Whether it's equities, commodities, or risk assets in general, the tape suggests investors are hitting the exits more broadly. This kind of panic-driven selling often ripples through crypto markets too, as institutional money pulls back from higher-risk plays.

Keep an eye on what's driving this movement. Is it inflation concerns, rate expectations, or just profit-taking after a strong run? The answer matters for where we go next.