Overview: Profit-taking after the FOMC meeting saw US equities and gold sell off. The high degree of uncertainty without fresh stimulus did not win investors' confidence. The Fed signaled rates would likely not be hiked for the next three years, and without additional measures, that appears to be the essence of the switch to an average inflation target. The MSCI Asia Pacific Index snapped a five-day advance, with several markets (Australia, Hong Kong, South Korea, and Malaysia off over 1%). The Dow Jones Stoxx 600 in Europe is ending a four-day rally and has halved