Index is down -1.91%
The Nasdaq stocks are getting walloped. The Nasdaq index is down -98 points - nearly 2%.
The decline had the index testing the 100 day MA at the 5035.55 level at the lows. It bounced off that level on the test.
The S&P is down 22 points or -1.06%
The Dow is down -155 or -0.88%
Healthcare is down 2.1%
Telecom is down 1.3%
Media stocks are down about 5% (ETF).
Disney yesterday said cable subscribers were down. Disney is down to 105. It peaked at 122 on August 4th.
Tesla is down sharply (-$26) after projections for sales for the year were reported to be lower than expectations.
Keurig Green Mountain is down $21 bucks today.
Apple which has been under pressure is an outlier as it trades near unchanged.
Tomorrow is the key US employment report. The Fed will be watching this report closely (and the one in September as well). They have pretty much given up on inflation, but if job growth can continue to expand, they are likely to see future inflation (or so it seems). The Pavlovian reaction by stocks is to sell on any sniff of tightening sooner rather than later. It will take some adjustment to a rate rising environment even if the Fed will do it's best to soften the blow via their efforts to manage rate rise expectations.
