As I’m typing this, Powell is still doing his press conference, so the market’s gyrations are still flying. All equity futures have been spasming up and down since the announcement. One particularly interesting item is that the small caps as measured by IWM, at long last, roared to a lifetime high (besting the prior record) only to slip back below it. It’ll be interesting to see if we close below that level.
A similar situation, although vastly less dramatic due to the short timespan, is the DIA.
Let’s just agree it’s been a crazy environment since the announcement (red arrow).
