Is this the end of the rally? Are we consolidating and building a base for the next leg up? Or maybe the market is looking for more confirmation of a rally before rallying further.
Bottom line is that you can pick your CNBC cliche, but mainly we just know that stocks — including the financials — are down.
The Dow dropped over 122.42 to 7,278.38. The S&P 500 fell to 768.54, a decline of 1.98% and the NASDAQ lost 1.77% to 1,457.27.