US stocks slide to new lows

The major US stock indices are sliding to a new session lows:

• Dow Industrial Average is down -482 points or -1.43% at 33338.52
• S&P index is down -56.4 points or -1.38% at 4022.70
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is down -202.22 points or -1.72% at 11584.50

Looking at the S&P index, it fell below its 200 hour moving average of 4047.27 and has now dipped below its 38.2% retracement of the move up from the December 22 low at 4030.82. The next target comes in at the swing low from January 30 at 4015.55. The 200 hour moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term is now a close risk defining level for sellers. Stable is more bearish. Last time they price traded below the 200 day moving averages back on January 19.

US yields are higher but off their highest levels:

• 2 year 4.699% +7.6 basis points
• 5 year 4.129% +9.4 basis points
• 10 year 3.909% +8.2 basis points
• 30 year 3.935% +4.7 basis points

The 2 year yield traded briefly above the high yield from last week at 4.718%. The high yield reached 4.725% at session highs today. That yield is the highest since November 8.

With stronger data in the US, the risks of a tighter Fed policy going forward is entering the market. Keeping the terminal rate at 5.25% as per the Fed's game plan might be more difficult given the still robust spending.