U.S. Follows World Stocks Lower, VIX Jumps 15%

U.S. stocks followed world stocks lower today, declining for the second straight session. China was the big loser, with the Shanghai Composite falling 5.8%. The U.S. fared better, but the selling was still broad-based. The Dow fell 2%, or 186 points, to 9135, the NASDAQ fell 2.8% and the S&P 500 fell 2.4%.

The reason behind the sell-off appeared to be simple profit-taking, following months and months of gains in riskier assets.

While stocks sold-off the yen, the dollar and Treasuries all rose.

Signaling traders' risk adjustment, the VIX, or fear index as it is known, jumped 15% to 27.89 today, the highest level in a month.

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