From Fortune:

Loading up during a bullish holiday rally, investors were hit with concerns about Federal Reserve policy, resulting in widespread asset losses. A negative jobs report and December’s euphoria left bulls with a sense they’d taken things too far, muzzling their confidence. A pullback in the stock market followed a period of uneasy buying. Substantial concern looms within the market about future in the financial assets sector.



Read more: Stocks are having their worst start to a new year since 2003 as they reverse their euphoric gains from the past few months