If red is a color that looks good on you, then today's your lucky day! Asian stock markets tanked, following weakness in US stocks on Monday and concerns about higher borrowing costs. As a result, the Asia Dow fell 1.16%. In Europe, it was the same story, and the STOXX 600 lost 0.79%. As of midday in the Americas, all major markets were lower as well, leading to the global markets page being entirely in the red.
US stocks started the day down hard, and then sold off further (the Dow down 350 points at one time), before pausing to catch their breath. Then came another wave of selling, prompted by news that Berkshire Hathaway, Amazon, and JP Morgan are banding together to offer employees cheaper/better health insurance. Health company shares didn't like that much. Also in the news, the market's "fear gauge" (VIX) broke above 15 for the first time ... Log in or subscribe to continue reading.