What's interesting is that the yield curve steepened slightly with the "belly" (7 to 10 Yrs.) and the "long end" (30 Yrs.) seeing some selling. This price action was quite unusual as Treasuries have an inverse market relationship with equities and normally any weakness in stocks equates to strength in Treasuries. No doubt, the US bond market didn't quite know what to make of Bernanke's testimony.
As to Ben's testimony I think the market overreacted a bit as the FED remains extremely accommodative. And I'm not sure that Gold and the market reacted the way they did because of the FED Chairman's testimony.
I saw nothing in the US or International news today on tomorrow's ISDA meeting that I mentioned in one of my blog posts yesterday. They will be considering whether to declare a credit event on the Greek "voluntary" debt deal which would trigger Credit Default Swaps. I won't repeat what the concerns surrounding such an event would be. See my blog post of yesterday.
As far as stocks go, the weakness today was nothing to be really concerned about. The VIX (CBOE Volatility Index) is still benign closing at 18.43. Here's an updated daily chart of the Russell 2000 which lead the market higher in late December. It's been in a tight trading channel for about a month and today broke down out of the channel a tiny bit (blue arrow):