The overnight rally fizzled badly.
Stocks are struggling here, and on light volumes.
Headline risk remains high despite the improvement in the VIX, which is still rangebound.
“Blood and power intoxicate; they help to develop callousness and debauchery. The mind then becomes capable of the most abnormal cruelty, which it regards pleasure; the man and the citizen are swallowed up in the tyrant; and the return to human dignity, repentance, moral resurrection, becomes almost impossible."
Fyodor Dostoevsky, The House of the Dead