Fed cut 50 basis points

Now that the Fed lowers its benchmark interest rate by 50 basis point to 3%, are the market suitably reassured?

Unlikely, because there are still many unsettled issues. Bloomberg blames this morning's trend reversal on bond-insurers losing their AAA ratings. And unfortunately, it seems that there are more trend reversals in the not-so-far horizon.

Picture above taken from Trade Bursa.