No surprise as to what the market did not like today. Around 1:30 it just gave up any sense of limbo, and wanted to go down.
Simple assumption... weak demand for debt puts an uncertainty to fund the stimulus, which threatens the recovery, which merits a declining market. Is this assumption correct? The market said it was... but... the Fed still has a shit load of purchasing power, and will probably start buying soon.
With the Fed support, the stimulus and recovery, (hence markets) should hold, but I guess we are at the mercy of the Fed. As of now, the high 800 SP500 support is still holding.
If not, look for the SP500 to see the 62 SMA.