It's red candle after red candle in the first 35 minutes of US stock trading.
This is not a good sign at all for the bulls.
Part of this is clearly rates with US yields up 9-13 bps across the curve but I suspect growth worries are also creeping in. Powell yesterday said it would be tough to achieve a soft landing and today the BOE highlighted recession risks.
At some point today the buyers will step in but the early returns are poor. The Nasdaq is back to pre-FOMC levels.
