S&P Plunges To Friday's Lows: 'Healthy Reset' Or 'Warning Shot'?

"I have no f**king idea," was the succinct response from one veteran equity trader this morning when we asked a simple question: 'why are stocks down'.

His thoughts summarized the responses from many desks as Tech (and energy) led the decline on the back of no apparent news-driven (or level-driven) catalyst after yesterday's 'dead cat bounce' revived hope.