A bunch of traders are getting the dreaded tap on the shoulder right now

IMDBFrom “Up In The Air”

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Bank of America Merrill Lynch is cutting jobs in its global banking and markets business on Tuesday.

The job cuts are the latest to hit Wall Street as difficult trading conditions blight the industry.

Renewables company Vivint said today that its $1.9 billion deal with SunEdison would not go ahead, sending the battered SunEdison stock higher.

Perry Capital, a $10 billion New York-based multi-strategy hedge fund led by Goldman Sachs alum Richard Perry, is preparing for another credit event like 2008.

And the stock market has a new “Fear Index.”Bats Global Markets is launching a new gauge of stock market volatility which will be known as SPYIX, or Spikes. It will compete with the widely-used CBOE volatility index, or VIX.

Here are the top Wall Street headlines at midday:

A $7 billion hedge fund says it’s being investigated by the SEC and the US Department of Justice – Visium Asset Management, the healthcare-focused hedge fund, told investors in a letter that it’s being investigated by the US Department of Justice and the US Securities and Exchange Commission (SEC).

HSBC makes a huge, counterintuitive call: Online grocery delivery is ‘the emperor’s new clothes’ – If there is one thing that pretty much everyone agrees on, it is that online shopping and home delivery are the future. Not at HSBC.

China has promised to do the worst thing for the global economy –In so many words, China has announced that it is committed to making its dangerous debt bubble bigger.

The most notorious trade of the past 30 years is still haunting the bond market – On Tuesday, the Japanese 30-year bond hit a record-low yield of 0.485%.

The US housing market has a major supply problem – The basic problem posed by a tight housing supply is that it likely leads to continued upward pressure on home prices continuing a lack of affordability for first-time homebuyers.

Tom Hayes, the jailed LIBOR trader, has been stopped from taking his appeal to the UK’s Supreme Court – Tom Hayes, a former UBS and Citigroup trader serving an 11-year jail sentence for conspiring to rig LIBOR global interest rates, was on Tuesday blocked from appealing to the UK’s Supreme Court against his conviction.

Go inside the Brooklyn home of entrepreneur Miki Agrawal, the ex-investment banker with a novel idea for women’s underwear – Miki Agrawal isn’t afraid to defy expectations.