Here in the U.S., the Dow Jones industrial average has moved in a 250 to 300 point range from high to low every day since Tuesday—that’s twice the usual volatility.
And China, forget about it. The largest mainland China ETF moved down 20 percent in two days earlier in the week, and then rallied all the way back. This ETF represents the 300 largest stocks on the Shenzhen and Shanghai stock exchanges—that’s like the Dow moving down almost 4,000 points, then rallying all the way back.
It’s been volatile in Europe, too. Germany swung in a 6 percent range from the lows on Wednesday, when it looked like there would be no deal on Greece, to the close on Friday, when it closed at the highs for the month.
Another busy news week is coming up. All the leaders of Europe will meet on Sunday to give thumbs up or down on the latest proposals for a Greek bailout—this would be the third one.
Janet Yellen will also give her semi-annual two-day testimony to Congress, beginning on Wednesday.
Other central bankers will be busy as well. The European Central Bank and the Bank of Japan will both be meeting, no one is expecting any changes in interest rates, but everyone will want to know what Mario Draghi has to say about any deal with Greece.
Get set for another wild week.