The S&P 500 recovers from negative territory, but is still well off
its high. Treasuries are in the red this session on the long end of
the curve, while the short end is seeing some gains.
European markets faltered in conjunction with the recent retreat in
U.S. stocks. France's CAC (-0.8%) slipped into the red, while the FTSE
is now up only 0.4%. Germany's DAX is well off its high, but is still
up 4.7% as Volkswagen surges 30%. On Sunday, Porsche announced it was
increasing its stake in Volkswagen. There is speculation that the
gains in Volkswagen is due to hedge funds covering their shorts,
according to CNBC. Volkswagen is up 222% in two days.