For the second day in a row, markets are sliding.
It’s nothing too dramatic, but the S&P is off 0.8%, the NASDAQ is off 1.3%, and the Russell 2000 (small caps) is off 1.6%.
Alibaba, which just came public on Friday, is off over 4%. Yahoo, which is something of a proxy for Alibaba because it owns so much of it, is down nearly 6%.
Yahoo is now down over 10% in just the last two sessions as investors appear to be “selling the news” with regards to Alibaba.
The selloff comes at a time when there’s a lot of attention being paid to the Fed, rising interest rates, and a stronger dollar. It also comes as commodities hit a 5-year low, possibly an indication of slower global growth.