As the benchmark US 10 year yield moves over 1.80%, the US stocks are opening lower with the NASDAQ leading the way. The NASDAQ index is now down for the fifth consecutive day (as is the S&P). The Dow is down for the fourth consecutive day (after making new record highs on the first two days of the calendar year).
Today, all three indices major indices are lower. The Russell 2000 is also getting hit by about 1%. A snapshot of the market currently shows:
- Dow industrial average -213 points or -0.59% at 36015.05
- S&P index -50.51 points or -1.07% at 4627
- NASDAQ index -250 points or -1.67% at 14693
- Russell 2000 index -24.50 points or -1.10% at 2155.04
Looking at the NASDAQ stock, it is down testing/breaking below its 200 day moving average at 14689.07. The NASDAQ index reached a low of 14658.75 but is bouncing. Key level for the NASDAQ index.
Some big names are getting smashed.
- Nvidia down -4.25%
- Meta/Facebook is down to -2.95%
- Microsoft is down -1.95%
- Google is down -2.07%
Below is the chart of the 10 year note. The next target is the end of 2019 highs at 1.944% to 1.971%
