Intraday Update: Dow Takes a Beating as Volatility Returns…With a Vengeance

The*Dow Jones Industrial Average*is getting*hammered after*Turkey increased tariffs on U.S. goods*including cars, tobacco, and alcoholic beverages*on Wednesday.*China's tumbling market*has also raised concerns. Volatility had been scraping near historical lows, while skew, a measure of fat-tail risk, had been ticking up. Throw in some seasonal weakness and you get "the perfect storm," Andrew Thrasher, portfolio manager at the Financial Enhancement Group and founder of Thrasher Analytics told Barron's. "People will point to the lira, emerging market contagion, or whatever else but the beautiful thing about the market is it doesn't need a reason at all.

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