Stocks are taking a dive.
Volatility is also popping. The Chicago Board Options Exchange volatility index, which gauges investor anxiety (technically, implied expectations for volatility in the stock market) and is widely known as the VIX index, has been trending down for a while.
However, the CBOE Volatility index was up 9.79% at 1:04PM EST.
Financials are the big losers today. At 1:04PM EST, the XLF financials ETF was down 2.46%.
The big banks are getting hit particularly hard: