the FOMC minutes had reminded the market that things remain bad going forward. In addition, given that we’re still in a midst of a great recession, the combination of strength in commodities and sharp drop in the U.S. dollar had raised concerns about inflation and bottom line growth (read: profit margin squeeze) because goods are getting more expensive to produce and consume. That, in turn, would hurt stocks. And given that stock prices are based on the underlying fundamentals, we’re at risk to a big decline unless fundamental starts to improve, say a jump in GDP and/or a significant drop in unemployment rate
