Greece ETF (GREK) Goes Green as Markets Make 'Insane' Turn

(Updated - July 7, 2015 3:50 PM EDT)

Global X FTSE Greece 20 ETF (NYSE: GREK) pared earlier declines and traded into positive territory late Tuesday afternoon, as broader markets rallied. The massive turn in equities was described by Mad Money's Jim Cramer on twitter as "insane" -- a sentiment shared by many given the intraday whipsaw in the S&P 500 and other indexes.

Action in China-related stocks was especially wild, with Alibaba (NYSE: BABA) and JD.com (NASDAQ: JD) clawing higher after a sharp selloff on the open. Both stocks remain negative on the session but are well off lows. Similar action was noted in materials stocks like Freeport-McMoran (NYSE: FCX). While Freeport-McMoran remains in the red, others like Teck Resources (NYSE: TCK) and U.S. Steel (NYSE: X) punched into positive territory.

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