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Is A "Hawkish" Fed Bad For Stocks After All? S&P Gives Up All Post-FOMC Day Gains

US equity markets have fallen this morning, extending yesterday's losses after the ubiquitous morning ramp. This has driven stocks down to unchanged from the close of last week's "hawkish" FOMC day...

 

 

S&P briefly joins Crude, Bonds, and Gold in the red post-FOMC day...

 

Of course - a bounce will ensue - but with credit and VIX decoupling, we would not be surprised to see FOMC Day lows tested before this is over.