xD You can’t make this stuff up.
The US stock market was up these past days, then, on a slightly upward trending August CPI report indicating +0.1% month over month (core CPI, which sets aside food and energy prices, is up 0.6% month over month, so of course inflation worries are warranted, but that was old news already), it went down 3+% and the Fed Watchers, who were previously betting on 91% of a 0.75% FED rate increase (with 9% of 0.5%) next meeting are now pricing in an 18% chance of a +1% FED rate increase.
I mean, how do you go from “inflation has peaked, yolo!” to “well, duh!” in so short a time and who are the people with the money to loose on those bets? It really seems like many market participants have real trouble coming to terms with living in less than euphoric times. There’s the potential for a lot of pain ahead…