Major indices down about -0.5% give or take
The major US stock indices are opening lower, but off the premarket low levels. Generally speaking, the major indices are down about -0.6% to -0.7% in early trading.
A snapshot is currently showing:
- S&P index, -17.42 points or -0.66% at 2609.23
- Nasdaq index -47.51 points or -0.61% at 7726.64
- Dow -162 points or -0.73% at 22165
Of course price action is volatile. Today is finally the last day of the month and the quarter. For the month the:
- S&P index is down -11.7%
- NASDAQ index is down -9.78%
- Dow is down -12.68%
For the 1st quarter the numbers are even worse with the:
- S&P index -19.14%
- NASDAQ index -13.72%
- Dow -22%
Month-end/quarter and can lead to increased volatility and "rebalancing" flows. For the quarter, stocks are sharply lower and bonds were sharply higher (lower yields). The combination should lead to a rebalancing into stocks in at a bonds generally speaking. However, the flows can be a fickle thing and movements may have already taken place.
