A mystery

I have a basement circuit that doesn’t work. Or doesn’t exist. Sort of.

There is wire from the first box on the circuit that appears to go back to the electrical panel. But it appears there is no breaker in the panel for this circuit.

Did I forget to land a wire in the panel? It’s hard for me to see how that would happen, as e dangling wire near the panel would be hard to miss. But I don’t have other ideas right now. Going to go after it with a tone and probe tomorrow.

Here’s hoping I don’t need to tear into that pretty new drywall…