Liquidation Continues Across Wall Street (SPY, QQQQ)

The futures markets were pricing in a very bad open on Tuesday morning throughout the night, and that is exactly what has happened. Right now the Dow Jones Industrial Average has fallen 172 points to 9,894, after actually rallying through the first 50 minutes of trading. The Dow has surged almost 60 points from where it opened, at around 9,835. The SPDR S&P 500 ETF SPY, which tracks the S&P 500, has moved 2.05% lower to $105.53. Volume has been very heavy this morning, with nearly 80 million SPY shares already changing hands. The PowerShares QQQ Trust QQQQ has fallen 2.19% lower to $43.70. The ETF tracks the performance of the Nasdaq 100. The losses in the Nasdaq index are outpacing both the Dow and S&P, as investors around the world continue to raise cash and de-risk their portfolios.