U.S. stocks closed lower on Wednesday and Thursday. That’s not something we’re used to seeing too much lately.
This morning, the bloodletting continues. The S&P 500 is trading near 1639, down 0.7%.
Europe is in the red across the board. Spain is taking the worst of it there, down 1.2%.
In commodities, WTI crude oil is dow 1.1%, gold is flat, but other metals and agricultural commodities are down pretty much across the board.
10-year Treasury yields are 2.6 basis points lower at 1.99%, while Italian and Spanish government bond yields are both 15 basis points higher, at 4.43% and 4.18%, respectively.
Durable goods orders surprised to the upside this morning, but the release was unable to buoy markets.