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Led by weakness in the high-beta indices as Trannies tumbled their most in 4 months and the S&P's biggest daily downswing in over 3 weeks. On a side-note, gas prices have never been this high on the first day of the year. VIX closed higher once again as stocks began to catch down to it's recent warnings. Bonds rallied from the open this morning (with 10Y 6bps lower in yield from its opening print) with 10Y back under 3%. EUR weakness drove the USD higher (but JPY strength weighed on stocks). The biggest moves appeared in commodities with gold and silver up nicely and WTI crude down hard... on, and TWTR was up over 6%!
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