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.
"Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy."
Louis Brandeis, Olmstead v. United States, 1928