Why is the market red now?

It depends on your belief of efficient market. If yes, then you need justification for every market movement. But my belief is no, so I don’t need any explanation for daily movement since people can trade based on sentiment, etc, etc. I even forgot why the stock market went back up during Dec 2018 correction (people said the correction is due to trade war, tariff, interest rate hike, etc etc).

If you read online, the main news now is just inflation concern and the repeat of taper tantrum like 2013.

But what I believe is human mind can’t relax. We constantly looking for explanation and Bloomberg continuously gives us explanation. I believe daily market movement is almost random (try predicting the next day S&P500 close price whether up or down every single day if you are curious enough to experiment. This is just a direction, not even the magnitude).