Eh? Because (a) they're in panic mode, (b) the markets were overvalued and just waiting for negative news to tip the balance, (c) there are clear economic and profit impacts in the short-term, and (d) markets don't like uncertainty and we have no idea how this will play out or how long it will last.
Markets are about sentiment as much as fundamentals. We'll have to wait for sentiment to swing back. At some point buyers thinking 'prices are now cheap" will counter those taking fright.
Originally Posted by: Gandalf The White