Circuit breakers at -7% are in play

The major US stock indices are open. The snapshot of the indices a minute or so into the opening are showing:

  • S&P index -135.93 points or -5.37% at 2393.26
  • NASDAQ index -393 points or -5.37% at 6941
  • Dow industrial average -1224 points or -5.77% at 20012.62

The 7% circuit breaker today comes in at 2352.14. The 13% circuit breaker comes in at 2200.39. If the levels are broken, trade will be halted for 15 minutes. A 20% move would shut the markets for the day.

A snapshot of other markets at 9:36 AM ET are showing:

  • spot gold $-25.50 or -1.62% $1503
  • WTI crude oil futures $-2.80 or -10.39% at $24.16

in the US debt market the yield curve continues to steepening with the 2 year trading down -4.5 basis points. The 10 year is actually up 0.8 basis points. The 2-10 spread is up to 63.88 basis points from 58.59 at the close yesterday

US yields are showing a steepening yield curve

In the forex market, the USD has moved to the top of the table as the strongest of the major currencies. The JPY and CHF are also mostly higher but behind the greenback. The AUD remains the weakest with the GBP and NZD just behind.

The USD is the strongesy