Update: It’s getting worse. The stock is now off over 4.5%
Original post: It’s not a bad day in the markets for the bulls.
The major indices are all up over 0.5%. The dollar is down. The euro is down. Gold is up.
It’s a classic risk-on day, at least based on recent history.
But there is one canary, and that’s Bank of America, which got crushed yesterday, and it’s sliding hard today, down another 3%. It’s lost about 8% over the last few days, as the mortgage-putback fears gather steam.