It's now official. After the NASDAQ long since crossed the rubicon, the world’s biggest equities index, the US S&P500 officially turned to bear market having cross the 20% loss line on Friday night. Having reached this juncture after just 2 of the 10 rate hikes predicted and BEFORE any quantitative tightening even starts… the question on everyone’s lips is how strong will the Fed hold its ‘we will not capitulate to save the financial markets’ stance?