Once European markets closed, US equity markets gave up any correlation with JPY crosses and began to fade. After bouncing off early Nasdaq-Biotech-driven lows, a ramp of AUDJPY saved the European close but that was it. There does not appear to be any news catalyst to drive this dump as Quad-witching pumps are unwound. The S&P 500 and Russell 2000 jooin the Trannies and Nasdaq in the red from the FOMC statement.
Stocks now red post -FOMC…
As The European close appears to have been the tipping point…
VIX is rolling back higher (inverted below) and catching up with stocks drop…
As the yield curve continues to collapse…
via Zero Hedge http://ift.tt/1r6GPCc Tyler Durden