While stocks initially oscillated before testing the day's lows, precious metal losses have accelerated since Fed's Bullard walked back some of the market's perceived uber-dovishness of Bernanke's press conference:
- *SILVER FUTURES FALL AS MUCH AS 6.3% ON COMEX IN NEW YORK (biggest drop since July)
- *GOLD FUTURES DROP AS MUCH AS 2.4%, EXTENDING DECLINES ON COMEX (biggest drop since June)
Levels remain above pre-FOMC but the drop is accelerating as the USD is pushing higher. So it would seem the 'market' is expecting good macro data to justify the taper?