Investors seem to be a bit more than worried about equity exposure and volatility. The volatility term structure hit a new high today displaying the fear in the markets at this moment. A possibility of tapering by the Federal Reserve could be one reason for the rise in volatility hedging. Gold and Silver prices are also down significantly with Gold spot down -2.16% and Silver spot down -4.03%. Earlier this year, Gold and Silver prices where heavily sold off with Copper prices eventually falling significantly as well, marking a period of deflation in global markets.