The price of oil dropped into new record low territory today, a near term low anyway.

And I hear the Fed wants inflation! Hard to get that when energy costs are falling like this.

Expect more jawboning out of them tomorrow, and designed to shake markets more than actually doing anything substantive.

Why do markets react to news like they do, when so may players are really smarter than that? It's because everyone looks around trying to anticipate what the other guy is going to do, whether their conclusion makes sense, or not.