Quite a day today… I weigh in here at the top on why this should be concerning for investors but why there was also a silver lining in today’s action, enjoy! Source: CNBC

Is this the taper? I am on-air right now at CNBC headquarters, nobody has any idea what’s going on. The Nasdaq has just told The Street to rout all orders away from their exchange. Executions are happening elsewhere according to reports from institutional traders. Stay tuned… (flatline chart below via Business Insider)

Good infographic from Charles Schwab about the big picture… Source: Charles Schwab  

Ethan Harris and the Bank of America Merrill Lynch US Economics team go out on a limb in saying the market may be misinterpreting yesterday’s Fed minutes… Caution from the Committee While Fed officials seemed to be overall confident in the recovery, some cracks appeared relative to their June meeting. For example, they acknowledged uncertainty…

Your morning financial links, expertly curated.

Ohmygod so boring I fell asleep typing the headline to this post. Here’s what we learned today from the release of the FOMC’s meeting minutes when they last met (spoiler alert: nothing): Business Insider: The minutes say that while a few on the FOMC urged patience, and others favored tapering of quantitative easing soon, there…

Chart.

Shocking but not shocking survey sponsored by Edward Jones asks Americans about the impact of interest rates on their investments and retirement portfolios: According to a recent survey by financial services firm Edward Jones, 63 percent of Americans don’t know how rising interest rates will impact investment portfolios such as 401(k)s, IRAs and other savings platforms….