Stocks turned negative after the Labor Department's February jobs report handily exceeded expectations, reaffirming the building momentum in the economic recovery, but also stoking a rise in Treasury yields and concerns over an economic overheating.
Shares of Okta (NASDAQ: OKTA) were slipping for the second straight day following its fourth-quarter earnings report Wednesday night. As of 12:03 p.m. EST, Okta stock was down 9.6%. There was no major news out on Okta, though a number of analysts weighed in on the stock since the earnings report, with many lowering their price targets following the sell-off and the disappointing earnings guidance.
Gold starts the session on the bearish side of the 50% to 61.8% retracement zone of last year’s trading range.