These funds go up when the corresponding index goes down.

Quoted: Going on offense: Bear-market funds

Quoted: But Wall Street stock index futures tumbled more than 4 percent, suggesting a sharply lower open for Wall Street on Tuesday, after routs in Asian and European stock markets on Monday.

Thankfully the U.S. markets are closed today.

Quoted: Monday has proved another black day for Indian Stock Market as on Jan 21, 2008. Indian bourses have seen the biggest ever fall in the stock Market history breaking all major supporting levels.

Quoted: Both growth and value stocks have taken turns leading and lagging one another during different markets and economic conditions.
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Value stocks, often stocks of cyclical industries, generally tend to do well early in an economic recovery; growth stocks, on the other hand, tend to lead bull markets, which are normally fueled by falling interest rates and increased company earnings.