The major US indices all closed lower as worries about higher rates, higher inflation, slower global growth, recession, you name it.
- S&P and NASDAQ closed lower for the second consecutive day
- S&P closed below its 200 hour moving average at 4420.58
- NASDAQ gapped below its 200 hour moving average up at 13707 and closed near session lows and down over 2%
- NASDAQ is down nearly 6% month to date
- All 11 sectors of the S&P moved lower led by energy (-3.1%), technology (-2.6%), and healthcare (-2.0%)
The final numbers are showing:
- Dow industrial average down -413.04 points or -1.19% at 34308.07
- S&P index down -75.73 points or -1.69% at 4412.54
- NASDAQ index down -299.03 points or -2.18% at 13411.97
- Russell 2000 down -14.23 points or -0.71% at 1980.32
As mentioned, the S&P index fell below its 200 hour moving average for the first time since March 17. That moving average comes in at 4420.58. Stay below it is more negative.
The 10 year yield is trading up to 2.784% and the highest level since January 14, 2019