total carnage

Today was one of the ugliest days in the market in a long, long time.  The Dow closed down 504 points. The S&P500 plunged 4.6%, the worst day since right after the 9/11 attacks. The CBOE SPX Volatility Index, or VIX, soared six full points to 31.70. Long bond futures skyrocketedby 3 23/32 in price, while 2-year Treasury Note yields plunged a whopping 47 basis points to 1.73%. This just goes toshow why inverse ETFs and put options are a vital investment tool in markets like these.