The major US stock indices are sharply lower in early trading as the dollar runs higher, the earnings from Morgan Stanley and J.P. Morgan disappoint and calls for 100 basis point from the Fed continues to weigh on the stocks.
A snapshot of the market currently shows
- Dow industrial average -500 points or -1.62% at 30270
- S&P index -59 points or -1.56% at 3742.60
- NASDAQ index -162 points or -1.45% at 11083
- Russell 2000-27.52 points or -1.6% at 1698.39
The price of J.P. Morgan stock is down almost 5% in early trading. Morgan Stanley stock is down -2.72% in early trading.