It Would Appear That the Stock Market Experienced a Reality Check Overnight

“It hasn’t taken long for the post-Fed bounce in stocks to fade, and given the gloomier outlook for growth, that is hardly surprising," said Chris Beauchamp, the chief market analyst at IG Group in London. “We are still living in the same world we were 24 hours ago, one where growth is slowing, earnings are still falling and prices keep on rising. This is not a great environment for stocks.”