by Chris Becker
As I said in my “Crazy Bill Gross” post earlier this morning, the FOMC two day meeting has begun and combined with the Russian ruble crisis has seen higher volatility on risk markets across the North Atlantic. The VIX has spiked once more:
US markets at first followed the European bourses (all up 2% or more on the cash markets, but following US in futures trading) but have sold off quickly later in the session, with tech stocks the most sold off, the NASDAQ off 1.2% while the S&P500 is off nearly 1%:
