The Fed taper surprise last week really caught the markets off guard and led to a big rally. Oh how short lived that rally was!
Just 4 short days later, we're now below where the S&P 500 was when the taper delay rally started. A bit surprising. Did the market already priced in a delay (I don't think so), did the market realize that the delay doesn't mean that much (likely, taper will happen in Dec or so likely now).
Much ado about nothing after all?