Consumer goods also diverged today.$Altria(MO.US) basically didn't move; defensive cash flow like tobacco is relatively stable in a risk-off environment;$Crocs(CROX.US) fell slightly,$ANTA SPORTS(02020.HK) dropped three percentage points,$IFBH(06603.HK) this coconut water Hong Kong stock fell over six percentage points. The essential consumption/defensive side can hold up, while discretionary consumption and small-cap new consumption have greater elasticity and fall more. When the market seeks safety, capital is clearly more willing to stay in certain cash flows like tobacco rather than in small-cap new consumer stocks that are still telling growth stories😪