(CNBC) Stocks are extremely oversold, but investors still seem bent on selling after the Federal Reserve disappointed markets with a less dovish message than expected.“The bears have been writing the script,” said Scott Redler, partner with T3Live.com. The S&P 500 lost 1.5 percent Wednesday to 2,506 and is nearly 15 percent off its September high. About 85 percent of the S&P 500 stocks have seen a correction of 10 percent or more, while 60 are in a bear market, meaning down 20 percent.
Stocks look to be in for more pain after Fed-day rout:
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