Evening Macro: Markets Rip Back — S&P +1.1%, Nasdaq +1.7%, VIX Craters 13%
One day after the Fed hike and Warsh's hawkish presser tanked the Dow 700+ points, stocks staged a sharp reversal Thursday. Chips led, VIX collapsed 12.8%, and 10-year yields pulled back from 2007 highs. Here's what changed and what to watch into next session.