Stocks Down on Spailout News (Again)
Stocks fell hard this morning and are trying to recover as the market processes the news that Spain is out of money. At this point who really cares but the Bears are out in full force preying on volatility and fear of a market collapse. The iPath S&P 500 VIX ST Futures ETN (VXX) is up 8% today and is the weapon of choice for traders.
If you haven't lost interest already the market is down because Spain sucks. The euro has once again hit bottom and Spain needs money fast. Spain is the 4th member of the EU that needs a quick loan or 'Spailout'.
Investors sold off assets viewed as riskier and fled to the perceived safety of U.S., British and German government debt and the U.S. dollar as the concerns about economic growth and the plight of Spain drove investment decisions.
The winning trade for the next 15 minutes is the VXX, here's a look:
Best of the Blogs
Scanning and identifying the best blog entries every hour
- CEO Hikes Minimum Wage To $70K, Capitalist Tragicomedy Ensues | ZeroHedge
- Monetary Metals Supply and Demand Report 2 Aug | ZeroHedge
- The Surveillance State Goes Mainstream: Windows 10 Is Watching (& Logging) Everything | ZeroHedge
- The Job You Want, the Pay You Deserve, and the Education You Can Afford | Financial Sense
- Jimmy Carter Rages At What The U.S. Has Become: "Just An Oligarchy With Unlimited Political Bribery" | ZeroHedge
- 70% DOWN | iBankCoin.com
- WTI Crude Crashes To $45 Handle - Lowest Since March | ZeroHedge
The most relevant financial news and articles from the Internets
- U.S. Kids Using Media Almost 8 Hours a Day - BusinessWeek | BusinessWeek
- Trillions of dollars needed for UN anti-poverty plan | Business Insider
- China's government still blocks these 9 incredibly popular websites | Business Insider
- These states drain the most of our natural resources | Business Insider
- Here's a look at just how big a problem 'freebooting' is for Facebook (FB... | Business Insider
- There are 3 days until the first wild GOP debate — here's who... | Business Insider
- Eyes on banks as Greek stock exchange to reopen | Business Insider