volatility

Regional banks also slumped, with investors betting that without the big trading businesses that help Wall Street firms profit off market volatility, they could be more exposed to any economic fallout of the trade dispute.

Some of the selling came from computer-driven portfolios programmed to buy up stocks when markets are calm and sell when volatility rises, said Michael Green, chief strategist at Simplify Asset Management.

Silver is poised to experience significant volatility in the weeks and months ahead as it “enters a phase of price discovery in this unprecedented range,” he said.

“And until that point, low volatility means the carry trade will stay popular—now with the yen as the preferred funding vehicle.”

The security-services provider’s blockbuster IPO comes amid a string of public listings from European companies in the past two months, after market volatility staved off new listings for much of the year.