Dow stocks lead the tumble
No surprise. The major stock indices are opening with sharp falls.
The Dow stocks are leading the way as quantitative and qualitative risks from China weigh on the multinationals in the Dow. Tariffs are one thing. China could over regulate US companies, or delay expansion plans or encourage consumer boycotts as a way to fight US tariffs outside a tit-for-tat tariff war. The story is yet to be told or played out but risk remains high. Stock markets are reflecting that uncertainty.
The snapshot right now shows:
- S&P down -19.43 points at 2754.33. The low reached 2747.04
- Nasdaq is down -54 points at 7692. The low reached 7657.55
- Dow is down -301 points at 24679. The low reached 24644.
A snapshot of other markets now is showing:
- Spot gold $-4 at $1274.42
- WTI crude oil has moved lower now at $65.05, down $.80 on the day
US yields are off low levels now:
- 2 year 2.532%, -1.6 basis points
- 10 year 2.889%, -2.7 basis points
- 30 year 3.025%, -2.3 basis points