Stocks Sink As Powell Warns "Some Prices" Are High; Dollar, Bond Yields Spike

Update: The initial reaction to The Fed statement has been wiped away as Fed's Powell began speaking...

Comments by Powell that "financial conditions matter" and that "some asset prices are in the upper reach of historical ranges" seems to have spooked stocks...

The dollar and bond yields are now surging...

And stocks have given up there gains...

*  *  *

Plenty of kneejerk reactions in bonds and FX but all of that has disappeared now leaving Treasury yields and the Dollar Index practically unch since The Fed - however, stocks found something to love and are higher...

Bonds Unch...

Dollar Unch...

But stocks loved it... but are starting to catch down to bond/FX reality...