(New York)

Investors have been waiting anxiously for a downturn in stocks for several months. In recent weeks the nervousness had risen as we had seemed to reach a period of “melt up”. However, the market has fallen considerably over the last couple of days, including the S&P 500 falling over 1% yesterday. The question is whether the tide is finally turning following the rise in concern over surging bond yields.

FINSUM: This was a pretty scary couple of days, but we have a feeling this is not the beginning of the end given strong earnings coming out.