The morning light was thin and grey, filtering through the floor-to-ceiling windows of Julian’s penthouse in a way that made the expensive marble floors look cold. He sat on the edge of his bed, his head resting in his hands. He hadn’t moved for twenty minutes, his gaze fixed on a glass of water on the nightstand.
The silence in the room was heavy, pressing against his ears until the thrumming of the blood in his own temples beca the only sound he could hear.
The vibration of his phone on the marble sounded like a jackhamr. Julian didn’t flinch. He watched it dance across the stone for three rings before reaching out.
"William," he said, his voice sounding like it had been dragged through gravel.
"Did Jas call you yet?" William Brice asked. The financial advisor’s voice was taut, stripped of its usual professional cadence.
"No. Not yet," Julian replied.
"He’s probably fielding the sa calls I am. Julian, are you watching the pre-market?"
"I’m sitting in the dark, William. Give a minute."
’It shouldn’t be moving yet,’ Julian thought. ’The eting isn’t for an hour. There’s no reason for a move this early.’
"You don’t have a minute," Brice snapped. There was a frantic clicking of a keyboard in the background. "The gossip has reached the institutional desks. People are talking about coordinated seizures. Word is out that Sterling Infrastructure is being systematically frozen by the Aurelia Capitals. They don’t trust us to hold out, Julian. You know who the board mbers are so you should understand why. The sell-side is already getting crowded."
Julian stood up, his legs feeling like lead. He walked toward the small office nook in the corner of his bedroom and flicked a master switch. Three high-resolution monitors humd to life, bathing the dark room in a harsh, neon glow. The center screen displayed the Bloomberg terminal.
$STR was a jagged red line pointing straight down.
"Talk to , William," Julian said, leaning heavily over the desk.
"We closed Friday at 82.15 marks per share. On a 230 billion valuation, we were the definition of stable," Brice said. "But the bid-ask spread is falling apart. The current pre-market indicates an opening at 74.00. That’s a ten percent gap down before the bell even rings. We’ve lost twenty-three billion in market cap while you were sleeping."
Julian felt a cold sweat prickle at his hairline.
’Twenty-three billion marks,’ he thought. ’Vanished into the dark pools before the world even has their coffee.’
"They know about the 16 percent stake," Julian said aloud, his voice flat. "They know I’m selling the ridian equity to stay liquid. That’s sixty-four billion in cash coming onto the books."
"It’s not the cash they’re worried about, Julian," Brice countered. "The market is pricing in the loss of synergy. Sterling Infrastructure depends on the ridian Refinery for nearly sixty percent of our construction materials. If you sell that stake and lose your seat on that board, your supply chain costs in the North will skyrocket. The banks see us as a shell—high overhead, no liquid collateral, and a crippled supply line."
Julian’s eyes flickered to another window on the screen. He pulled up the ticker for the ridian Group ($R). His heart skipped a beat.
The ridian stock had stopped its freefall. After dropping nearly 100 billion marks in value over the last few days, the red line had flattened. Now, it was ticking up. It was currently sitting around 312 billion, slowly climbing back toward its true value of 410 billion.
’He isn’t even doing anything,’ Julian realized, a hollow feeling forming in his gut. ’The news of his inheritance plus the scene at the gallery has made people see a future for the group. But he isn’t part of it though. Are investors really that confident he will sooner or later be the owner?’
"Julian? Are you there?" Brice asked.
"I’m looking at ridian. It’s recovering," Julian said.
"Of course it is. Because everyone knows ’we’ are up against Aurelia Capitals," Brice said. "And here’s the kicker: we moved forty percent of our liquid holdings into short positions against ridian last week to hedge our bet. That money is trapped. As long as the ridian price holds or goes up, we can’t close those shorts without taking a catastrophic loss. We’re squeezed on both ends."
Julian looked at the clock on his wall. 08:55. Five minutes to the opening bell.
"Julian, hold on—I’m getting a priority ping. It’s the board." Brice’s voice dropped. "They want a conference call. Now. They’re using the ergency line."
"Put them through," Julian said, closing his eyes.
A mont later, the line crackled, and the voice of Harold Vance, the senior board mber, filled the room. "Julian? What the hell is happening? The pre-market looks like a cri scene."
"The market is reacting to rumors, Harold," Julian said, trying to force a calm into his voice he didn’t feel. "It’s a volatility spike. We have a eting at ten to resolve the—"
"Rumors don’t wipe out ten percent in an hour," Harold interrupted. "Veyra National called personally. They’re concerned about our debt covenants. If we don’t put out a statent by 09:15, they’re going to issue a public warning. We need you on the floor, Julian. Not in your penthouse."
"I’ll be at Apex Plaza by ten," Julian said. "Tell them nothing yet. Wait for the bell. Maybe the retail side will see it as an oversold dip and buy back in."
"Julian, retail doesn’t have thirty billion marks to fill this hole," Brice whispered over the private line. "Wait... the pre-market just hit 71.80."
The seconds ticked by with agonizing slowness. Julian didn’t look away from the screen. He watched the volu bars begin to grow, the digital clock counting down the final seconds.
09:00:00.
The opening bell icon flashed. The screen turned into a blur of activity. For the first sixty seconds, the ticker for $STR didn’t even show a price; the volu was so imnse the system couldn’t find a match.
Then, it flashed: 70.00.
"There it is," Brice whispered. "We’re down fifteen percent."
Julian sat down in his leather chair. He watched the chart. Usually, a drop that sharp would trigger a ’dead cat bounce’ as algorithms bought the dip. But the line stayed flat, vibrating at the 70-mark level before ticking down to 69.50.
"There’s no support, Julian," Brice said. "The sell-side is stacked with million-share blocks. This isn’t panic selling. This is a coordinated exit by the institutional holders."
’They’re giving the board a reason to fire ,’ Julian thought. ’If the stock hits sixty, the margin calls on my personal shares will trigger. I’ll be forced to sell my own legacy just to cover the interest.’
"How much ti do I have before the bank triggers the covenant?" Julian asked.
"If we stay below 72 for more than two hours, the Sterling International Bank loan for the bridge project goes into technical default," Brice said. "They’ll have the right to seize the equipnt and the contracts as collateral by noon."
Julian looked at his reflection in the darkened monitor of the third screen. He looked older. The sharp lines of his face seed to have sagged, the confidence that had carried him through thirty years of corporate warfare replaced by a hollow, ringing silence.
"The 10:00 AM eting," Julian said, his voice barely a whisper.
"What was that?" Brice asked.
"The eting with Jake Rivers," Julian said louder. "He told to be there at ten. He knew this would happen. He wanted to watch the opening bell first."
’He wanted to feel the weight of it,’ Julian thought. ’He wanted to walk into his office as a man who has already lost, so he doesn’t have to negotiate. He just has to dictate.’
"Julian, you need to call soone," Brice said. "Call the Premier’s office. Call the central bank. We need a trading halt."
"On what grounds, William?" Julian asked, a bitter smile touching his lips. "That the market is being an? The trading is legal. This is just the market deciding what I’m worth without the protection of the Rivers family."
He reached out and turned off the monitors. One by one, the red charts vanished, leaving the room in a dull, grey dimness.
"I’ll call you back," Julian said.
He hung up the phone and sat in the dark. He didn’t cry. He didn’t rage. He just listened to the sound of his own breathing. The devastation wasn’t a sudden explosion; it was the slow, thodical ticking of a clock that had finally run out of ti.
He had forty-five minutes to get to Apex Plaza.
Julian stood up and went to shower then walked to his closet. He pulled out a dark blue suit, the most expensive one he owned. He dressed slowly, his movents robotic. He just focused on the chanics of the buttons, the knot of the tie, the alignnt of his cufflinks.
’If I’m going to surrender,’ he thought, looking at himself in the full-length mirror, ’I’m going to do it like a Sterling.’
But as he picked up his car keys from the dresser, his hand shook. Just a little. A tremor that he couldn’t stop, no matter how hard he gripped the tal. He walked out of the penthouse and toward the elevator, the silence of the hallway feeling like the inside of a tomb.
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