"Time is running out for the Fed and the situation is getting out of hand," BitMEX co-creator Arthur Hayes wrote. "Previously, the stock market decline would have caused the US 10-year Treasury yield to fall, which was good for risk assets. Now the stock market decline, accompanied by the rise in the US 10-year Treasury yield, is a bad thing. The market has finally realized that if the US dollar export income decreases, there can be no more buying of Treasuries or stocks, and the game is over."