Markets Are Sliding

The market has abruptly turned negative on no obvious news.

The Nasdaq leading the charge lower, down 18 points (0.4%) after earlier trading nearly unchanged.

The Dow is down 34 points (0.2%), and the S&P 500 is down 2 points (0.1%).

Earlier today, the University of Michigan consumer confidence reading fell to 81.9 for May from 84.1 in April.

Chicago PMI climbed to 65.5 in May, the best level for the manufacturing reading since October.

Personal spending for April unexpectedly fell by 0.1%, missing expectations for a 0.2% increase.

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