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The rocket-launch company just posted a steeper loss than analysts were expecting.

“It took one election and a poor Nvidia headline to go from D.C. being a tailwind to D.C. as a potential headwind,” says strategist.

The probabilities make it almost certain that macro forecasts will be wrong far more often than right.

While some analysts view the steep drop in names like Nvidia, Micron and Sandisk as an overreaction, others are staying cautious.