While many hoped that Lockhart would play good cop to Yellen's bad cop, he didn't:

• *LOCKHART SAYS MARKET'S VIEW FOR SEPTEMBER HIKE 'REASONABLE'

Which has sent stocks reeling back to the levels pre-payrolls in April.

Click on picture to enlarge

The Dow is also in the red from pre-Payrolls (with Nasdaq holding on to gains for now)

Click on picture to enlarge

Lockhart had more to say...

• *LOCKHART SEES REAL ESTATE, STOCK MARKETS SUPPORTING CONSUMPTION (umm ok)
• *LOCKHART: NOT `INTENSELY CONCERNED' ABOUT STOCK VALUATIONS (jusdt 'concerned' then?)
• *LOCKHART: WE HAVE NOT SEEN DETERIORATION IN CORE NUMBERS (yes we have!)