VIX Tops 12 As Dow Erases Yesterday's Opening Ramp Gains

@zerohedge -

@zerohedge—Deja vu all over again? Hold your breath for the USDJPY momo ignition in 3...2...1...

Credit Crashes, VIX Tops 14 As Stocks Open Lower For 7th Straight Day. Something changed... Futures were weaker overnight but dumped at the cash open... As the collapse in HY credit accelerated... worst day for HYG in 3 months HYG is now negative year-to-date... With spreads crashing back abopve 400bps... USDJPY was unable to save stocks and VIX is now topping 14... VIX is starting to catch up to credit... Equity markets are down at the open for the 7th straight day... Trannies (blue) and Small Caps (dark red) are the worst performers but Nasdaq (green)...