The DOW fell 1.78% today. The Nasdaq is down 2.57%. The S&P 500 fell 1.82%. Why? Irrationality or is there a reason?The realty of the current U.S. Administration is getting priced in the market. It is clear that the government will not pass on any tax reforms, legislations, or introduce change that promotes growth.The divided GOP will raise uncertainty in the markets.What to doWatch AMD, Facebook, Amazon.com, Intel, and Nvidia for now. These high-growing companies will correct but the dip will not last. Accumulate banks. Rate hikes are coming but bank stocks do not reflect the potential gains. Accumulate BAC, C, WFC, JPM, GS.Recent high fliers could hold their gains. But BlackBerry (BBRY) will struggle holding $10 and Nokia (NOK) may re-test the $6 support.In biotech and pharmaceuticals, avoid weak companies like Arena Pharmaceuticals. Speculate on Synergy Pharma (SGYP) and monitor Valeant Pharmaceuticals (VRX).