Lots of cross currents today, and while the attack in London is rightly taking the lion's share of the headlines, other, ongoing issues are having a greater impact on the markets:
Put it all together, and while the is still only 2 percent off its recent historic highs, other sectors are already in correction territory:
(from recent highs)
S&P 500: down 2%
Exploration & Production: down 17.7%
Metals/Mining: down 14%
Regional Banks: down 12.6%
Retail: down 10.5%
These ETFs, of course, reflect declines in large groups of stocks, but there is considerable damage being done to individual names in banks, energy, and retail.
So why isn't the market down more? Because technology and health care — two of the three biggest sectors — have held up well.