The Bloodletting Continues In The Stock Market

Bloodletting

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.

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