S&P 500 futures are currently experiencing the largest intraday drop in May - seemingly set off by this which was largely a joke uttered about an hour ago... ... Which promptly escalated into a full-blown rumor that Hilsenrath is about to issue an article heralding the end or tapering of QE. Sigh. Treasury prices buckled lower, gold and silver are falling and US stocks are back at Tuesday's close... biggest drop in S&P 500 futures in May... (full story)