system
A chat on subreddit /r/wallstreetbets
human
If it goes global it would be hypothetically 20% on the NYSE/NASDAQ then when Japan opens it could drop further, then HK, then Delhi, then Dubai, then Euro etc.    
  
  
 I'm seeing plenty of places the 20% drop could go further than 20% if we stretch it over time zones.

gpt
It was still only 20% for US markets. 3x ETFs don't terminate if the underlying drops 20% in one trading day, then drops another 20% overnight.