US stocks slump at the open

The S&P 500 is down 14 points to 2083 after a 5 point decline a day earlier. The two days of selling wipes out Monday's gain and leaves the index in negative territory on the week.

The stock market is showing some unease about Fed hikes and that fits with the strong USD narrative today.

The good news is that the FOMC minutes at 2 pm ET could easily flip the theme. The Fed over the past 6 years has been the best fried a stock market bull has ever had.

On this day in 1962, Ringo Starr joined The Beatles.