As the euro took another leg down against the dollar and the yen about 3:20pm ET, we saw a volume spike in the E-mini futures and the S&P 500 ETF ; they have now turned negative on the day.
A story in the FT that the Chinese were getting cold feet about buying more euro debt appears to have been the catalyst.
As I noted before, the S&P 500 has been unable to put together back to back gains since April 28 and 29.
Apple Passes Microsoft:
Apple , with $222 billion in market capitalization at 3:35pm ET, has surpassed Microsoft , with $217 billion in market capitalization, to become the second biggest company in the S&P 500 by market cap.
ExxonMobil remains the largest stock by market cap, at $278 billion.
AAPL has dramatically outperformed MSFT this year. Since February, AAPL is up roughly 25 percent; MSFT is down about 12 percent.
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