The much anticipated rate hike last week was based on somewhat subpar economic data, suggesting confidence is getting ahead of growth.
Investors are recoiling from riskier assets amid a mix of deteriorating credit fundamentals for retailers and energy companies and higher interest rates from the Federal Reserve, which will make it harder to refinance debt.
Volatility is coming back to the bond market.
The second week of March also saw redemptions from emerging markets equity hit a year-to-date high.