That was fast.
After opening higher, markets have fallen back into the red, with the S&P down 0.84% and the NASDAQ falling 1.69%. After getting buoyed by solid earnings from Caterpillar, the Dow has finally succumbed and is now off 0.38%.
European markets spent most of the day lower. London’s FTSE closed down 1.7%, and Germany’s DAX finished 0.46% lower.
Gold has recovered somewhat after falling in early trading. Crude is down more than 1%.
BI’s Matt Boesler explained this morning why markets are spazzing out to emerging-market weaknesses.
Here’s the chart from S&P: