It had been a pretty quiet 2012 with stocks grinding higher on low volatility. Earlier today, BTIG’s Dan Greenhaus told us that “of the 27 trading sessions thus far in 2012, 20 of them have seen the S&P 500 move less than 0.50% in either direction including 8 of the last 10.”
Yesterday, we got word that Greece and international leaders had come to some sort of agreement on austerity measures.
However, it seems chaos is breaking out in Greece with leaders resigning and citizens rioting.
Stocks and commodities are broadly selling off as investors shift their money into the safest of safe-havens: Treasuries. The 10-year Treasury note is down to 1.99%.