Stocks slide after Donald Trump Jr. tweets Russia bombshell

Global markets on Tuesday were rocked by Donald Trump Jr.’s shocking decision to release what he said was the full email correspondence between himself and a music publicist believed to have helped arrange a meeting in June 2016 at Trump Tower with a woman who was identified in the emails as a “Russian government attorney.”

The S&P 500 dropped as much as 0.6% on the news after trading little-changed for most of the morning. The Dow Jones industrial average slipped 0.2% as of 11:52 a.m. Eastern, while the more tech-heavy Nasdaq composite was unchanged.

The CBOE Volatility Index, or VIX, which has sat dormant near record lows for much of the year, spiked more than 9%. The so-called stock-market fear gauge still sits about 40% below its average for the eight-year bull market.

The 10-year Treasury yield fell to 2.37% after trading as high as 2.39% before the release. The spot price of gold, historically considered to be a safe-haven asset, rose 0.6% amid the uncertainty.

In currency markets, the ruble slid as much as 1.3% versus the US dollar, although the Russian currency was already down about 0.9% before the news. Meanwhile, the greenback weakened versus six of the so-called Group of 10 currencies, including a 0.2% loss against the yen.

This story is developing. Check back for updates.

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