master channel acting weird in cubase

[jimistone]

While mixing a song in cubase I noticed that the master channel of the mixer is pegged all the way into the red. It's not just getting in the red during the level peaks of the track. It's staying all the way in the red....twitching a bit. When I pull the master fader down it doesn't change until it's almost all the way off....then it goes straight from all the way in the red to no signal at all. Then when I barely move the fader up it goes all the way into the red again. Meanwhile none of the tracks are clipping and sound fine.
the meter for the master channel is basically acting like there is a feedback loop somewhere...the same way a mixer boards meter pegs when a mic starts squealing in a live setting.
Only thing is that there is no audible feedback that I can hear and none of the channels are clipping.

I exported a mix and while it didn't sound horrible...the wav file didn't sound as good as the mix on Cubase did. There was some slight distortion in the wav.
Any help on this would be appreciated.

 

[mixsit]

That's an odd one, and it acting like a feedback loop sounds logical. But you're not hearing it, wow.
Perhaps back-track. A recent routing change? plug inserted etc? Maybe try muting stuff one at a time trouble shooting?