(As of 7:00 am PST)
US stocks recovered slightly after yesterday's pummeling which saw the DJIA shed 332 points on its way to its worst day in over 5 months. Fears of a US interest rate hike as early as this summer, sent investors into sell mode yesterday, with all three major US benchmarks down from the start of the session. 2015 gains for the DJIA and S&P500 were all but erased yesterday, leaving both indexes flat for the year. Europe is providing some relief today, as stocks moved 1% higher as the third day of the European Central Bank's bond-buying program got under way. Asian markets finished the day mixed. Despite a brief recovery this morning, expect continued volatility thought the remainder of the week as investors come to grips with the inevitable Fed rate hike and what that means for markets. With earnings season wrapped up, these big macro stories will be the driving force for the coming weeks, making 'headline risk' perhaps the biggest risk to markets at this point.
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