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Read it at Wall Street Journal
They’re up, they’re down. After a huge rally Tuesday, stocks sank Wednesday, with the Dow falling 456 points, or 4.1 percent by the afternoon. Wall Street’s measure of volatility and fear, the VIX, rose 16 percent in early trading topping 40. After Lehman Brothers’ collapse in 2008 it almost reached 90. Tuesday, the Dow regained ground after the Federal Reserve promised to keep interest rates near zero through the middle of 2013. During the past month, stocks have lost almost 13 percent.