Let's recap some of the main worries behind the selloff. Unfortunately, I think the trading action gets worse before it gets better.
The CSI 300 plunged to its lowest level in two years as residents of the Chinese capital stripped grocery store shelves bare amid lockdown fears.
The market is trying to discount all the negatives out there, and it is a process that takes some time.
One positive takeaway last week was the very low trading volume for Nasdaq-listed stocks in aggregate and for constituent names of the Nasdaq Composite.
Southeast Asia's largest economy is going strong and offers a contrast to lockdown-battered China.
Interest rates are rising in much of the Asia Pacific region, but the two largest Asian economies persist in very low rates and weakening currencies.
China's economy grew 4.8% in Q1, but many China watchers say the numbers are getting increasingly unreliable.
Place a percentage on the likelihood of recession? It sounds more like someone trying harder to not get it wrong than trying to get it right.
Management signals risks are overdone -- and Wall Street takes note.
Whatever it is that Munger knows about Alibaba is far less important than the fact that he's a seller.