Market moves when money moves.
If you get cost-push inflation ( from reduced oil infra : it multiplies up the logistics chain ) you'll still be ok as long as there are jobs on the market - govs can print, and run the economy hot for a bit.
If at the same time financiers get cold feet and no one, not even govs want to spend, then you get mortgage collapses, and some real PE deflation. But this typically comes from popped bubbles - so for example, an AI paradigm shift, which hasn't happened yet.
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