Volatility Up In August As Investors Sell Off: JPM Prime Brokerage

S&P 500 (INDEXSP:.INX) followed up its July rally with an August correction as risk assets were sold off. The index fell by more than 3 percent overall with utilities and financials performing the worst and materials nearly breaking even as focus returned to macro factors, according to a JPMorgan Chase & Co (NYSE:JPM) prime brokerage report obtained by ValueWalk. Volatility in emerging markets “The month was characterized by a renewed focus on macro issues, including tensions in the Middle East centered on Egypt and Syria, heightened volatility in emerging markets, continued uncertainty over the prospect and timing of Federal Reserve tapering,…