Tech stock -3,5% and Bitcoin -5% S&P -2% was hard hit yesterday buy Fed minute.
The minutes revealed that committee members think inflation risks were more persistent to the upside, and there was general agreement that the taper should be accelerated with three tentative rate hikes. News of new rate hike it's nothing new was announced by Chairman Powell, only factor that surprise the market was that some members felt that the Fed should commence running down its balance sheet soon after its first hike selling $8.50 trillion of bonds.
Negative sentiment was also sustained by Russia intervention in Kazakhstan and Omicron outbreak in Europe. We are waiting another wave of selling today without a positive news catalyst.
Find below complete statement if you want to read all details