Spot palladium got hammered today, dropping over 4% and slipping to $1,555.31 per ounce. The culprit? CME just tightened futures margin requirements on precious metals—and this marks the second hike within seven days. When exchanges start cranking up margin requirements back-to-back like this, it's typically a signal they're bracing for volatility or trying to manage risk exposure. For traders juggling multi-asset portfolios across commodities and crypto, these policy shifts in traditional markets can create cascading effects. Keep tabs on how quickly these moves ripple through correlated asset classes.