NASDAQ index equals its worst trading days since August 24

Major stock indices fell sharply today as yields continued their march higher. The 10 year yield rose 11.7 basis points to 4.799%. The 30-year is approaching 5% at 4.927%. Much stronger JOLTs job openings data was the catalyst for higher rates:

  • Dow industrial average had its worst trading day since March 22
  • NASDAQ index equaled its worst trading day since August 24

The final numbers for the day are showing:

  • Dow industrial average -430.99 points or -1.29% at 33002.37
  • S&P index fell -58.94 points or -1.37% at 4229.46
  • NASDAQ and I fell -248.32 points or -1.87% at 13059.46

For the S&P index, it reached a low of 4216.45. That low got within 9 points of its 50% midpoint of the move up from the March 13 low at 4207. Just below that level is the 200-day moving average currently at 4201.98.

This article was written by Greg Michalowski at Source