Depending on your POV, some air was let out of the hype machine (inflated prices fell closer to reality), or the market withdrew its trust in actual value (devaluing it in real, instant dollars).

US dollars or equivalents mostly, money market funds, treasuries, sgov, etc

Gold and CHF

It was never really there to begin with.

The stock price is like the price on a restaurant menu. If you're the restaurant owner you don't make money just because you increase the prices on the menu. If you're a diner you don't spend money just by looking at menus in the window.