The stock market has gone down both times the Federal Reserve got out of the bond-buying business. Market gains have slowed since the Fed began "tapering" its third round of asset purchases in January. Will stocks plunge anew at the end of QE3?
That's what Wall Street fears.
The Federal Reserve's experimental policy of buying long-term U.S. Treasuries and mortgage-backed bonds has been bullish for stocks since the policy was devised in late 2008 during the financial crisis. But if history repeats itself, stocks will dip again when the Fed exits the bond-buying business for good, data from Bespoke Investment Group suggest.