Here's a snapshot of the equities space at the moment:

  • Eurostoxx -1.8%
  • Germany DAX -1.9%
  • France CAC 40 -1.6%
  • UK FTSE -1.6%
  • S&P 500 futures -2.1%
  • Nasdaq futures -2.4%
  • Dow futures -1.8%

In part, we are also seeing the post-FOMC moves switch back the other way around. This comes as Treasury yields also jump higher on the day, with 10-year yields now up 8 bps to 3.37% currently. But with the SNB moving today, it suggests that no central bank is able to escape the inflation conundrum. *looking at you now, BOJ*

And as mentioned last month here, when even the most dovish of central banks are moving, it is going to be a real mess for markets to deal with.