Notable ETF Movers of the Day 10/17: (VXX) (UUP) Higher; (SPY) (XLF) (USO) Lower

• iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 5.26 percent to $42.59. The CBOE VIX is up over 11 percent on the session as German Finance Minister Wolfgang Schaeuble said an upcoming summit meeting on October 23rd shouldn't results in a be-all, end-all solution to Europe's debt worries. Chancellor Angela Merkel echoed the sentiment. The comments are sending shivers through the market two-weeks early -- Halloween being two Mondays from now -- as fear of further debt fallout and lack of solutions grip investors.
  
  
• PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.55 percent to $21.77. The U.S. dollar is gaining aginst it's European rival today, as hopes for distressed debt resolution are put on hold. With the G-20 producing little in the way of solutions last weekend, fears may not be to overblown. The EUR/USD is off 0.9 percent to €1.3760.

• SPDR S&P 500 (NYSE: SPY) down 1.40 percent to $120.86. U.S. markets are trading lower on European debt fears. The S&P is down 1.4 percent, the Nasdaq off 1.6 percent, and Dow Jones is about 1.5 percent lower Monday.
  
  
• Financial Select Sector SPDR (NYSE: XLF) down 2.30 percent to $12.31. The ETF is being led lower by Wells Fargo & Company (NYSE: WFC), which is 6.3 percent lower following third-quarter earnings Monday. Wells reported earnings of 72 cents per share on revenue of $19.6 billion, versus consensus estimates calling for earnings of 72 cents per share and revenue of $20.21 billion.
  
  
• United States Oil (NYSE: USO) down 1.36 percent to $33.41. Crude lower as the dollar gains and demand is coming back into question following German Finance Minister comments. Crude contracts become more expensive on a stronger dollar, generally leading investors in other directions. November contracts are 47 cents lower to $86.33 on the Comex.

You May Also Be Interested In

• A strong earnings season looks likely to help restore market confidence - UBS
• JPM sees risk of further negative earnings revisions for Tesla (TSLA)
• NetEase.com (NTES) PT Lowered to $126 at HSBC