Fed's Rate Hold Sparking 'Bond Market Puked' Reaction on Wall Street

Federal Reserve Chair Jerome Powell's decision to hold interest rates sent shockwaves through U.S. markets. The S&P 500 opened down 3.5%; the VIX surged 20%. Powell's 'hawkish' messaging accelerated the market's switch to 'fear mode'. Corporate earnings expectations were also hit; Apple and Microsoft reported earnings down over 15%. Experts warned of continuing 'Gamma Squeeze' effects. Markets are now debating the long-term implications of the Fed's 'unexpected' move.