The market votes again on trade concerns

U-G-L-Y.

It's UGLY.

The US stocks got hammered with losses above of about 2.5%-3% for the major indices.

  • The S&P index is down -2.52% or 68.24 points at 2643.69
  • The Nasdaq index is down -178 points or -2.43% at 7166
  • The Dow fell -723 points or 2.93% at 23957.

Bank stocks were hammered at rates greater than the market as yields fell.

  • J.P. Morgan fell -4.19%
  • Bank of America fell -4.17%
  • Citigroup fell -4.14%
  • Wells Fargo fell -4.12%
  • Deutsche Bank fell -4.09%

Not only did they fall, they fell a near equal amount.

Big cap stocks got hit:

  • Caterpillar fell -5.75%
  • Boeing fell -5.21%

Steel stocks got hammered as exemptions to the steel and aluminum tariffs became more universal and trade tariffs shifted to China instead:

  • AK steel fell -8.92%
  • steel dynamics fell -7.5%
  • Nucor felt -6.53%
  • Alcoa fell -6.38%
  • United States Steel Corporation fell -10.99%

Are there any winners in the sea of red?

  • Chipotle +0.64%
  • Pandora +7.86%

FANGS today:

  • Facebook fell -2.66%
  • Amazon fell -2.34%
  • Netflix fell -3.09%
  • Google fell -3.73%