A correction was inevitable given the market is facing three clear near-term risks: weak first-quarter results, a worsening foreign exchange outlook, and the uncertainty about U.S. interest rates. |
Global markets have not been affected by the possibility of rising U.S. interest rates. Japan and the Nasdaq in the U.S. are gaining, so that's creating a positive flow. |
Looking at it with a cool head, the Fed's comments are not that unexpected. |
Oil prices could be a worry. We're not at the stage of a serious rise (in oil prices), so the impact is not so great yet, but the worry of more terrorist attacks is there. |
The biggest impact in today's trade is coming from the reduced worries about U.S. interest rates seen in U.S. markets yesterday. |