It’s down less than 50 points on the news. The market doesn’t over-react...but the hysterical news media always does.
that little 50 points you are talking about made me a huge amount of money on the futures swing..and I only played it one way. the gyrations have been huge. So no, it has not been a calm reaction in the futures market.
Oil futures stabilized. Emini and gold have not stabilized.