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Markets Are Starting To Slip

Myles Udland
new york stock exchange trader

REUTERS/Brendan McDermid

Stocks are now actually slipping.

The Dow is down 114 points, the S&P 500 is down 11 points, and the Nasdaq is up 12 points.

Markets initially slipped earlier in the afternoon in a muted move that was partly attributed to a report from The Wall Street Journal that said Syrian warplanes struck targets in western Iraq. 

In the last half hour of trade, the sell off has accelerated, and along with the fall in stocks, the VIX has also spiked and was up as much as 5% in afternoon trading.

June 24 intrady 2

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VIX June 24

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Earlier today, four economic reports were released.

The Case-Shiller home price index showed that home prices in May increased 10.8% over last year, but less than expected.

The Conference Board's Consumer Confidence index came in at 85.2, the index's best reading since January 2008.

The Richmond Fed's Manufacturing report showed a reading of 3, less than the 7 that had been expected and down from 8 the prior months. 

New home sales also surged 18.6% to an annualized rate of 504,000 units in May. 

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