Dumping? Not exactly a rout. Yes the street finally realizes the Fed plans on cutting the program out. gee, they have said they planed to do this a while ago as the economy warrants it. They will "NOT" do so if they feel the economy can't absorb the rise. there is the real reason for the rate rise. Anticipation of some inflation pressure where we haven't seen any for 4 years.
An improved economy is not good for wall street initially. Their margins gets squeezed. We might be at the early stage of this. More data is needed to prove this point.
Lets not forget the huge moves on a good number of very highly capitalized tech companies. it didn't happen because of faltering revenue. Either the big moves were a huge misstep by wall street or we are going to accelerate on our recovery. Place your bets. The older tech giants weren't so lucky, such as Cisco.
Which way it goes? The next 2 to 3 weeks should tell the tale.
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