From Barron's "Investors Sober Up After Brief Post-Fed Euphoria" posted early Friday:
Stock markets were in full hangover mode Friday, after the brief post-Fed euphoria that seized investors, on the apparent determination of the world’s major central banks to ignore for now the possible threat of the Omicron variant, and focus instead on inflation risks.
Tech stocks had taken a beating after investors’ change of mind Thursday, with the Nasdaq closing the session down 2.5%, as the Dow Jones Industrial Averageended the trading session stable while the S & P 500 was falling by 0.9%...
“Inflation risks have become too big an elephant in the room to ignore by central banks (…) The main difference between them is how much of a downside risk they attach to the current developments of the pandemic,” ING analysts wrote.
Charts: Yahoo!Finance sees a bearish fast stochastic pattern. Max pain stays at $160, but there's a lot of weekly call activity in the $175 to $200 range.