Now that the books are closed for Q3 the market appears to have gone into taking-gains mode.
The Dow and S&P are off about 1.5%, with the Nasdaq down over 2%.
In fact, just about everything is going down today… except dollars and treasuries. 10-year U.S. bond yields have hit 3.22%, one of the lowest levels since May.
Adding to the signals of fear,the Volatility Index (VIX) has jumped over 7%. Put protection is getting more expensive.