Stocks down sharply on tariff concerns
The US stock market is open and the major indices are down sharply on the back of the tariff fears (now Mexico and China). The lower opening has also gapped below the key 200 day MAs on the broader indices.
The snapshot is showing:
- The S&P index is down -33.5 points or -4.20% at 2755
- The NASDAQ is down -99 points or -1.33% at 7466
- The Dow is down -304 points or -1.21% at 24863
The 200 day moving average on the NASDAQ is currently at 7524.
The 200 day moving average on the S&P is currently 2775.54.
In other markets near the stock market openings shows:
- spot gold up $9.10 or 0.71% at $1297.90
- WTI crude oil futures are down $1.60 or -2.85% at $55
In the US debt market yields remain depressed with:
- 2-year 1.990%, -7.0 basis points
- 5 year 1.967%, -5.3 basis points
- 10 year 2.171%, -4.2 basis points
- 30 year 2.608%, -3.1 basis points
