Major indices open lower as traders await Yellen… I mean Powell testimony

  


NASDAQ down 2% (whoops on the headline)

The major indices are opening lower as traders awaiting Yellen testimony and continue to get spooked by higher rates and overvalued stocks.

The snapshot of the market currently shows:

  • S&P index 28.48 points or -0.73% at 3848.02
  • NASDAQ index -256 points or -1.89% at 13276.79
  • Dow -107.3 points or -0.34% at 31414.39

in other markets:

  • spot gold is trading down $2.70 -0.15% at 1806.40.
  • Spot silver is down $0.34 -1.23% at $27.78
  • WTI crude oil futures are trading down $0.60 or -0.94% is $60.82

in the US debt market, yields are mixed with the longer end a touch higher:

  • 2 year 0.110%, unchanged
  • 5 year 0.585%, -1.2 basis points
  • 10 year 1.365%, unchanged
  • 30 year 2.188%, +1.5 basis points

In the forex, the GBP remains the strongest and the CHF remains the weakest. The US dollar has moved higher since the start of the North American session. 

NASDAQ down 2% (whoops on the headline)

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