Dumb money will be averaging down in a big decline. Then getting margin calls as prices continue lower.
i pay about 25% of my profit in commission. its only about 150 gbp a day. for example today so far its like 75 quid.
I think the bots without proper machine learning must have started sell off. And along with high beta stocks, rest of the market got into panic sell off.....that might have caused users with zero commission to continue sell off.....cascade effect.