"Financials Have Worst Day Of Year As Fed Is Faded"

There is a saying in politics: "As goes Guam, so goes Samoa America".
[probably popularized in Guam -ed]

In equity speculation it's "As go the financials, so goes the market.
Here's ZeroHedge:

We noted last night that heavy and large average trade size was going through after the cash market close in S&P futures and it seemed overnight we needed one more push to flush out some more chasers before today's less than euphoric macro prints (aside from CFNAI's market-centric index) stalled the Fed-induced excitement. Financials had their worst day of the year (worst performing sector 2 days in a row), down just under 1% as did the Tech and Energy sectors as Utilities were best once again. Volumes were up with ES at its 50-day average and NYSE volume second highest of the year as ES (the e-mini S&P 500 futures contract) slid 20 points or so from opening highs up near 1330...MORE

And MarketBeat:
Brace for the Market’s QE Tantrum, Says Analyst

Taking note of Thursday’s exhausted risk-asset rally, David Gilmore at FX Analytics draws a line between the Lunar New Year banquet and Wednesday’s Fed meeting.

“It is hard not to notice that stocks have turned over some, bonds have put in at least a temporary top, and the dollar is firmer,” Gilmore wrote in a research note.

The reason why can be summed up in two words: quantitative easing...MORE