Why China Buys $SPX 
As $SPX fell, $DXY repatriation crushed EMFX. 
Buying $SPX circuit breaks $USD demand.   
DCEP, forerunner to PBOC Digital RMB. 
DCEP Credibility requires $CNY strong thru China Covid crises. 
PBOC selling $USDCNY supports stocks ala 09 via broad $ weakness https://t.co/URz4VhHExO