US equity markets have fallen this morning, extending yesterday's losses after the ubiquitous morning ramp. This has driven stocks down to unchanged from the close of last week's "hawkish" FOMC day... S&P briefly joins Crude, Bonds, and Gold in the red post-FOMC day... Of course - a bounce will ensue - but with credit and VIX decoupling, we would not be surprised to see FOMC Day lows tested before this is over.