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%