Mad Morning Sees Half Dozen S&P 500 Flips as Tech Gains, Fades
- Apple goes up and down; more selling lands on energy, banks
- The VIX pushes toward 25 as traders grope for equity direction
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Traders returning dazed from the worst stock selloff in nine months found themselves engulfed in more chaos Thursday as volatility surged and the S&P 500 went from up to down and back half a dozen times.
Apple Inc. was up as much as 1.6 percent and down 1.5 percent in the first two hours, and that was nothing compared with trading ranges in Netflix Inc. and Advanced Micro Devices, which were three-times as wide. Even more stress landed on energy and banking shares, which supplanted tech on Thursday as the market’s whipping boys.