The major US stock indices are moving lower at the open as tighter central-bank policy has traders worried about growth.
- Dow Industrial Average is trading down -377 points or -1.12% at 33583
- S&P index is down -54.2 or -1.35% at 3941.06
- NASDAQ index down -185 points or -1.66% at 10983
- Russell 2000 index down -24 points more -1.32% at 1796.42
In the US a debt market, yields are lower but not helping the stock market:
- two year yield 4.225%, -2.3 basis points
- five year yield 3.614% -3.8 basis points
- 10 year yield 3.459% -4.4 basis points
- 30 year yield 3.490% -4.9 basis points
in other markets:
- Gold is down $-24 or -1.32% at $1782.33
- Silver is down $0.61 or -2.59% at $23.31
- Crude oil is trading down $0.45 at $76.90
In the European debt market, the benchmark 10 year yields are higher as ECB's Lagarde is more hawkish. Italian dinner yields are up over 25 basis points. Spain's 10 years are up 18 basis points.
European 10 year yields are moving higher
Looking at Italian 10 yields, the yield moved above its 100 day moving average of 3.976% and is now moving above the 38.2% retracement of the move down from the September 28 peak at 4.096%.
Italian 10Y yield move back above its 100 day moving average
