which one is leading and lagging here ? http://finance.yahoo.com/q/bc?t=3m&s=^VDAX&l=on&z=m&q=l&c=^VXO
hey IV_Trader - if you are looking globally, i tend to think that emerging markets is where the weakness/fear gets most pronounced, it's where most of the "fluff" is (don't know if this is what they call "flight capital") - take a look at the ticker EEM - if i recall, the first weakness was a plunge in the Middle Eastern markets some weeks ago, then recently India and some others. as for vdax, i think it's fairly tightly correlated with vix, albeit more volatile.