Now people are panicking?

Now what?

The market is tanking, reportedly because people are panicking over Europe's financial situation and commercial real estate concerns.

Don't get me wrong! I like seeing lower prices. (I'd like seeing them even more if I had money sitting on the sidelines to buy all of these things on sale.)

It just doesn't seem to make sense to me.

I realize that the stock market has been creating its own sort of overpriced bubble for a while. Several stocks went from being way too under-priced to costing more than they're worth seemingly overnight. (It's really been over the course of the past year-plus.)

It's just that things I am reading TODAY, just....

Are we that much better today than yesterday?

Great news! The Federal Reserve met and announced that they will continue to keep down the interest rate.

This might be a great decision for the country; it might be horrible. I'm not looking to analyze this right now.

I'm scratching my head over the stock market's reaction to this announcement. It seems to forget that just yesterday, the entire market tanked, because it was concerned about the Goldman Sachs fraud deal and Greece almost certainly defaulting on its loans (with several European countries heading on the same path).

So the Feds keeping the interest rate low is more than enough to erase concerns about everything yesterday?

Why is the market moving upward? Are we really that much better today than we were yesterday? (Were we really that bad yesterday?)