Overnight US stocks fell, with the S&Poor 500 Index resuming a selloff started earlier this week

Overnight US stocks fell, with the S&Poor 500 Index resuming a selloff started earlier this week. Signs of financial stress in Portugal fueled demand for safe haven assets. Today's decline came after speculation that US stocks have risen too far, too fast fueled losses earlier in the week with a number of citing concerns for a severe pullback. The VIX finished last week at a seven-year low before rallying 16 percent during the first two days of the week, the biggest surge since April. More than 140 companies in the S&P 500, including Citigroup, JPMorgan Chase, Goldman Sachs Group and Johnson & Johnson, will report quarterly results between now and July 23. Full report from overnight session is available here: (VIEW LINK)