It hit $0.9513 before bouncing back up:
Tether issued a statement on Twitter saying they would sell their US govt bonds to free up US dollars to meet redemptions and maintain the peg
At least that is a better strategy than Terra's, where they sold bitcoin to raise dollars and managed to tank bitcoin as well.
Tether is titchy compared to the US bond market, so it shouldn't be able to move it much.
Lets hope Tether actually has these bonds.