{podcast} Equities were sharply lower as yesterdays’ bounce proved fleeting while the US dollar is weaker despite the risk-off backdrop. The Bank of England rose rate by 25bps and left its options wide open on future moves. Meanwhile, the Swiss National Bank surprised with an unexpected 50bp rise to -0.25%. The S&P500 was 3.6% lower, putting the index 6% lower so far this week. The sell-off was broad based with all sectors in the red, though declines were led by energy and consumer discretionary with consumer staples holding up better than others. The Nasdaq was 4.1% down, and the Dow closed below 30000 for the ... (full story)