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Richard Fisher stating the equity decline doesn't change his support for tapering. The FOMC is focused on the real US economy,Nike Air Max 2013 Pink Women, not the equity market. As a voting member this will have serious weight in aftermarket trading. What did not help trade in the equity markets was news from General Motors that January sales dropped 12% versus estimates of 2%,Nike Air Max 2014 Mens Grey Green Blue, with Ford seeing sales fall by 7% versus a 1% drop. The loss of sales from America's two major car providers just added to the concern around US manufacturing and the economic landscape post-QE monetary stimulus, and helped accelerate the decline.This is leading to a strong rally in the VIX index; it jumped to 21.1 from 18.0, up 13% overnight and is now up 64% since January 24. Volatility is creeping up as are option premiums as investors look to hedge risk. This will be one market to watch over the coming weeks as to how expensive it becomes to de-risk.The commodities space hasn't escaped the sell-off, with copper off for the ninth consecutive day; it hasn't suffered a ten-day losing streak since 1997 and it looks like breaking this record. Aluminium, nickel and zinc all suffer a similar fate, as industrial metals continue to suffer a red start to the year.We are going to have to ride out this negative pessimism for a while to come, as it looks likely that February will be a fairly red affair.Ahead of the Australian open The RBA will be key to currency and equity trading today. All eyes will turn to the statement rather than the rates decisions, which is unlikely to be moved. The easing bias that has remained in the final paragraph could be no more; this will be the first time in 13 months the RBA has sound a true neutral tone.Housing prices and inflation have indeed risen, and the AUD has fallen to a 'more acceptable level' - three parts the RBA has been hawking on for most of the later part of 2013. Will the alignment of the three be enough to cut the easing calls? The pair to watch is AUD/NZD after having seen a pop on the RBNZ's decision not to raise rates,Nike Air Max 2015 AU, and now the RBA tuning neutral. A neutral call is likely to push the equity market further into the red as investment funds are tightened further.Currently we are calling the market down 95 points on the 10am bell (AEDT) to 5093, -1.83%; this will be the lowest print on the local market since July last year and will see the ASX down 257 points year-to-date.Like with the US markets, the negative sentiment is unlikely to subside in the near term, and until I see some form confidence returning,Nike Air Max 2013 Women Purple Violet, the slide is likely to tread its own path.MarketPrice at 6:00am AESTChange Since Australian Market ClosePercentage ChangeAUD/USD0.87530.00030.03%USD/JPY100.8550-1.4550-1.42%ASX (cash)5093-95-1.83%US DOW (cash)15368-348-2.21%US S&P (cash)1740.0-44.9-2.51%UK FTSE (cash)6400-97-1.50%German DAX (cash)9089-207-2.23%Japan 225 (cash)14153-506-3.45%Rio Tinto Plc (London)32.19-0.25-0.76%BHP Billiton Plc (London)17.75-0.20-1.14%BHP Billiton Ltd. ADR (US) (AUD)35.85-0.59-1.62%US Light