Precious metals as well as the SPDR S&P Homebuilders ETF (NYSEARCA:XHB) lead the market nosedive on decreasing inflation expectations, with the homebuilders index tumbling more than 5%. Markets sold off around the globe after yesterday's Fed meeting and the Chinese credit crunch. The Philadelphia regional manufacturing survey showed greater than expected growth, reporting a reading of 12.5 against the -1.0 consensus.