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Market check: Stock indices fall, Target stock tumbles, bitcoin falls below $30,000

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Yahoo Finance’s Emily McCormick joins the Live show to break down how stocks are moving in early trading.

Video Transcript

EMILY MCCORMICK: Well, Brian, we're seeing another risk-off day in markets here, reversing some of the gains that we saw yesterday. And as we can see, the S&P 500 currently down about 1.6%, just about a half hour into today's trading day. The NASDAQ composite, again, the big laggard, down about 1.7%. And the Dow Jones Industrial average also moving to the downside.

Now if we take a look at where volatility is heading, it's moving up this morning. We can see the CBOE S&P 500 Volatility Index, or VIX, is up just around 6 and 1/2%, although not quite at the highs from what we'd seen over the past week.

Now, taking a look at inside the NASDAQ 100, I do want to highlight all the red that we're seeing across the screen here, especially in some of these major retail names, as well as growth stocks, like Amazon, down about 4.3% today, as well as Costco, down nearly 9%, falling in sympathy with some of the other major retailers, like Target and Walmart, after those disappointing profit results that we've had over the past 48 hours.

Now, taking a deeper dive here into the retail sector, I do want to highlight the moves to the downside that we're seeing across the screen here as well. Target, of course, being the main mover to the downside, down about 25%. That's after this company cut its profit forecast for the full year.

But one exception here that I do want to highlight is TJX Co. Now it's the parent company of TJ Maxx, as well as Home Goods. This stock is moving higher by more than 10% this morning, really bucking the trend that we've seen in the broader retailers, and actually raised its earnings forecast for the full year.

And then, finally, I do want to get a check on one other area of risk assets, and that's cryptocurrencies. Now, unfortunately, we aren't seeing quite as much positivity here either. We do still have Bitcoin prices down nearly 4%, trading below that $30,000 level. Guys.