The Stock Market Is Starting To Panic

But that's changing Tuesday as short-term Treasury bill yields surge to levels not seen since 2008 — in the midst of the financial crisis — as investors worry about upcoming interest and principal payments that might not be made on time. The CBOE Volatility Index has returned to the highs seen in December and June. The S&P 500 has lost its 50-day moving average — a level that held stocks aloft all last week. And money is flowing into safe-haven assets like precious metals.