As the European and London traders head toward the close, stocks have moved lower, yield are higher and so is are oil prices. The markets are anxious about the Fed with the chance of a hike up to about 35% as Fed Chair Warsh (and the Fed voters) ponder the "for" and "against" choices. Recall at the last meeting the Fed Chair was more hawkish and the 2 year has reacted appropriately with a move higher. Much of the weakness continues to center around AI and chip stocks as investors take profits after a tremendous run higher. With the Fed decision and Chair Kevin Warsh's press conference still ahead, traders are also reducing risk into the event.