It could be the Army sold to more serious and/or institutional investors near the top who were chasing returns of their own.
What's been happening for some time is a desperate search for investment returns of any kind. When treasury yields dried up in 2020-1, money piled into stocks, fueled by government transfers such as the PPP giveaway and stimmie checks.
Those programs are long gone, as is a lot (most?) of the money.
At some point, long term yields will stop rising, and the juicy capital gains to be had as the inevitable return to earth commences will beckon to those who have been burned by stocks to try treasuries, fueling sector rotation and more stock declines.
Along the way the occasional explosive stock rally will captivate everyone's attention - for a while. By the time the dust settles, nobody will care about stocks and you'll get blank stares when you say that's what you just invested in.