March 6, 2012
Stocks were sitting near session lows Tuesday, with the Dow on pace to log its first triple-digit decline this year, amid fears that Greece and its private bondholders would not meet the deadline to complete a debt swap.
The Dow Jones Industrial Average tumbled, led by Caterpillar [CAT 105.71 -4.38 (-3.98%) ] and Alcoa [AA 9.4925 -0.3775 (-3.82%) ], after finishing lower in the previous session. The Dow has not logged a triple-digit loss this year.
The S&P 500 and the Nasdaq were also sharply lower. The CBOE Volatility Index, widely considered the best gauge of fear in the market, jumped above 20 for the first time since mid-February.