Model: 100 rule-based agents (3 market makers, fundamentalists, chartists, noise traders) submit limit and market orders to a price-time-priority limit order book. Fundamental value follows a random walk; chartists trade an EMA signal with heterogeneous panic thresholds; market makers quote tight spreads in normal regimes and withdraw liquidity under stress. Bubbles, crashes and the V-shaped flash recovery are all emergent — no price is scripted. Zero LLM tokens are consumed.