Tesla CEO Elon Musk on Thursday morning tweeted “lol”, a reference he later clarified to apply to “stonks,” the colloquial term given to the rallying stock market.

U.S. stock futures ES00, -2.68% pointed to a sharply lower start on Thursday, extending the decline since the Federal Reserve said it would keep interest rates at zero through 2022. Musk’s Tesla TSLA, -3.24% was lower in premarket trade.