After an insane day in the stock market yesterday, which saw the Dow fall by nearly 1,000 points, or 9.2%, before rebounding and closing with a loss of 3.20% ― all because of a trader’s typing error, perhaps? ― stock futures are on their way to stabilizing. “It is not clear exactly what sparked the 10 minutes of utter chaos in the markets yesterday afternoon, but the underlining story is undoubtedly fear that the Greek nightmare will spread to the much bigger economies of Spain and Italy, driving the Euro Zone into a deep new recession and wreaking havoc in the banking system,” said Ian Shepherdson of High Frequency Economics.” “Financial contagion, round two, is the fear, but the twist in the tale is that the debt risk is sovereign rather than private, and it...(read more)

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