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The Bloodletting Continues In The Stock Market

Matthew Boesler

Wikimedia Commons

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 1644, down 0.4%.

This comes after a totally insane session in Japan again Friday, which saw the market rally 3% in the early going before going red in the afternoon and then bouncing back by a hair late in the day.

European markets closed in the red across the board. Spain took the worst of it there, ending down 1.0%.

In commodities, WTI crude oil is down 0.4%, while metals and agricultural commodities are down pretty much across the board.

Ten-year Treasury yields are a basis point lower at 2.01%, while Italian and Spanish government bond yields widened 11 and 12.5 basis points to 4.12% and 4.40%, respectively.

Durable goods orders surprised to the upside this morning, but the release was unable to buoy markets.

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