Market Update – TESTS

2:32 p.m. ET SP-500 1-.5%, Dow -1.6% (Transports -1.25%), NASDAQ-100 -1.15%, Small Caps -1.15% Chair Powell’s testimony before the Senate Banking committee began shortly after 10:00 a.m. ET, but the tone of the market shifted completely on the release of the Fed Chair’s prepared remarks at 10:00 a.m. ET. In brief, there was a spike…