Markets Now Solidly In The Red

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:

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