A healthy market does not trade down 1% then back up 1% then back down 1%. This back and forth is a bearish signal. I can understand a bit of a selloff on the back of weakness in fixed income. The 2 weakest sectors, utilities and telecom, are yield plays, so I can understand why they led the way down. But there were signs of indiscriminate selling today. Higher yields should cause a rotation not an outright liquidation. Look at semis. This sector has not made any sense in months. Some are strong, some are weak. I get the Apple supplier story, but that cannot explain everything going on in semiconductor stocks. This sector is too broad and covers so many industries. The USD was even down today, but semis down too? Today every sector went down and it was mainly sentiment driven from what I can tell. This is not the sign of a healthy market. The tech sector down 1.6% on higher yields? That doesn't make sense. Oil up today, but energy sector down? There is more going on here with this market and its not bullish...