<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 820 331" width="820" height="331" role="img" aria-labelledby="t d" font-family="'Manrope', ui-sans-serif, system-ui, -apple-system, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif">
  <title id="t">What causes a stock market crash?</title>
  <desc id="d">Diagram of a stock market crash as a trigger meeting fragile conditions: stretched valuations, leverage and greed.</desc>
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  <text x="44" y="60" font-size="25" font-weight="800" fill="#0F172A">What Causes a Stock Market Crash?</text>
  <text x="44" y="92" font-size="14.5" fill="#5A6578">Stock market crashes are triggered by a shock, but fuelled by the conditions before it: stretched</text>
  <text x="44" y="113" font-size="14.5" fill="#5A6578">valuations, leverage and extreme greed.</text>
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  <text x="136.3" y="173" font-size="14" font-weight="800" fill="#0F172A" text-anchor="middle">A trigger</text>
  <text x="136.3" y="197" font-size="11.5" fill="#5A6578" text-anchor="middle">shock, bubble, or rate</text>
  <text x="136.3" y="212" font-size="11.5" fill="#5A6578" text-anchor="middle">spike</text>
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  <rect x="242.5" y="147" width="152.5" height="88" rx="11" fill="#F6F8FB"/>
  <text x="318.8" y="173" font-size="14" font-weight="800" fill="#0F172A" text-anchor="middle">Fear spreads</text>
  <text x="318.8" y="197" font-size="11.5" fill="#5A6578" text-anchor="middle">everyone heads for the</text>
  <text x="318.8" y="212" font-size="11.5" fill="#5A6578" text-anchor="middle">exit</text>
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  <path d="M418.0,191 l-9,-6 v12 z" fill="#94A3B8"/>
  <rect x="425.0" y="147" width="152.5" height="88" rx="11" fill="#F6F8FB"/>
  <text x="501.3" y="173" font-size="14" font-weight="800" fill="#0F172A" text-anchor="middle">Forced selling</text>
  <text x="501.3" y="197" font-size="11.5" fill="#5A6578" text-anchor="middle">margin calls cascade</text>
  <path d="M584.5,191 H596.5" stroke="#94A3B8" stroke-width="2.5"/>
  <path d="M600.5,191 l-9,-6 v12 z" fill="#94A3B8"/>
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  <text x="683.8" y="173" font-size="14" font-weight="800" fill="#0F172A" text-anchor="middle">Crash</text>
  <text x="683.8" y="197" font-size="11.5" fill="#5A6578" text-anchor="middle">prices gap down</text>
  <text x="410" y="269" font-size="13.5" fill="#334155" text-anchor="middle">Crashes are emotion at full speed, which is why fear runs hottest at the lows.</text>
  <line x1="44" y1="295" x2="776" y2="295" stroke="#0F172A" stroke-opacity="0.08"/>
  <text x="44" y="317" font-size="12.5" fill="#5A6578">Source: <tspan font-weight="700" fill="#0F172A">CFGI</tspan></text>
  <text x="776" y="317" font-size="12.5" fill="#0284C7" text-anchor="end" font-weight="700">Stocks</text>
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