Nailed it, investors are demanding profit increases, it’s not just interest rates (though they’re the main reason) but also the corporate tax cuts in 2018 basically dumped a ton of profit onto corporations because they repatriated all their offshore cash they’d been hoarding.

That bump lasted 2 years, but the expectation of higher revenue is still there, it doesn’t matter if you got lucky at slots last month, if you make your normal salary this month investors will be absolutely pissed.