Epic Update: US Market Update

[epicresearch]

The US markets accelerated their selloff in the final minutes of trading to close down more than 1% across the board, as initial euphoria over Spain’s bank bailout fizzled and amid ongoing fears over a global economic slowdown.

The Dow snapped a four-day winning streak, ending down 1.14%. The CBOE volatility index jumped above 23.

Dow Jones Industrial Average was down 1.14% or 142.97 points at 12411.23. Nasdaq Composite slipped 1.7% or 48.69 points at 2809.73. Standard & Poor’s 500 shed 1.26% or 16.73 points at 1308.93.