The S&P is down 1.6% to 1193, the Nasdaq is down 1.6% to 2484 and the Dow is down 1.3% to 11064. Action has come on above avg volume (NYSE 684 mln vs avg of 449 mln; NASDAQ 1.28 bln vs avg of 1.07 bln), with decliners outpacing advancers (NYSE advancers/decliners 524/2502, NASDAQ advancers/decliners 623/2011).
ETF relative strength:
Sector: Volatility-VXX +8.6%, 20+ yr Treasuries-TLT +1.3%, Gold-GLD +0.8%.
Regional: Yen-FXY +1.1%.
ETF relative weakness:
Sector: Base Metals-DBB -4.6%, Steel-SLX -4.3%, Metals and Mining-XME -3.7%, Coal-KOL -3.3%, Insurance-KIE -3.3%, Oil Services-OIH -3.2%, Solar Energy-TAN -3.2%.
Regional: Spain-EWP -5.6%, Poland-PLND -4.7%, Turkey-TUR -4.7%, Italy-EWI -4.6%, Eastern Europe-ESR -4.3%, France-EWQ -4.3%, Sweden-EWD -4.3%.
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