Alan Valdes, director of floor operations at Silverbear Capital, joins Yahoo Finance's Alexis Christoforous from the floor of the New York Stock Exchange to discuss the latest economic data and the Federal Reserve's plans for winding down its $4.5 trillion balance sheet.
U.S. stocks fell, weighed down by technology and transportation shares on Thursday, while U.S. Treasury yields climbed as investors assessed the Federal Reserve's recent statement that it is closer to paring its balance sheet. The S&P 500 was trading lower along with the Nasdaq, while MSCI's 47-country All World share index edged lower after hitting a record high earlier. The Dow Jones transportation average was down 3.4 percent, on track for its biggest daily percentage decline since June 2016 and Britain's vote to exit the European Union, while the S&P technology index was down 1.4 percent.
U.S. stocks retreat from records, turning lower as tech stocks drop sharply.