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Market check: Stocks drop, oil prices rise, China stocks in the green

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Yahoo Finance's Jared Blikre examines the market action heading into the day's final trading hour, in addition to the sector action across industries, Nasdaq leaders, Chinese stocks, the U.S. Dollar, travel stocks, and ARK ETF components

Video Transcript

RACHELLE AKUFFO: Well, we're just less than an hour away from the closing bell. Let's take a look at how the markets are faring. As Dave mentioned there, all three major indices in the red. We did see the NASDAQ briefly touching into the green before falling back down. The Dow down just over 1%, the S&P 500 down 0.88%, and the NASDAQ down 0.9%. Let's get you more details on what's been moving markets this afternoon with our very own Jared Blikre at the YFi Interactive. Jared, what can you tell us?

JARED BLIKRE: Well, as you said and pointed out, markets largely in the red, at least in the US. You take a look inside at the sector action, we do have a little bit of green. Energy not surprisingly up 2%, as we have crude oil, WTI, settling about 5%, 6% up. Utilities, the defensive sector also in the green, but check out what's in the red-- health care, financials, communication services, tech, consumer discretionary. All of those are underperforming the S&P 500, our benchmark. And here's what the NASDAQ 100 looks like. You can see Apple's a standout, up over 1 and 3/4 of a percent. Tesla up about 3/4 of a percent, but most of these other stocks in the red.

A few standouts here, we do have Chinese stocks. Let's check out those. One of the few-- excuse me, one of the few areas of green that we're seeing consistently in the market here. Some of the standouts, we got Pinduoduo up 5%, Alibaba up 3%. And when we take a look at our market leaders, KWEB-- that's the Chinese internet ETF-- that's in the green. So is LQD-- that is a bond fund.

But for the most part, everything else in the red here. Homebuilders-- that's XHB-- that is down 3 and 1/2%. And then regional banks-- that is the KBW Regional Bank Index-- that is also down 3%. And part of that has to do with what's going on in the bond market. We do have Treasury yields edging down. Let me just get the five-year T-note yield, which has been on a tear lately. But you can see that red candle, that tiny red candle, that is today's price action, down five basis points. So a little bit of easing on the bond front. 10-year down 5%, or five basis points, and the 30-year down a little bit more, seven basis points.

Also checking on the US Dollar Index, you can see it's been consolidating for several weeks now, but in the middle of its range. And I want to get to the S&P 500 again. This is a year to date chart that we've been looking at. Here is that huge breadth, thrust that we were looking at, happened over six days, just taking a little pause. So we do see some red on the screen here, but in light of the recent market performance, not really a big deal.

I want to go back to our heat maps here and check out a few of the sectors. We have traveled largely in the red. Carnival Cruise Lines that's in the upper right here. That is down 3%. Avis Budget Group, that is down 3% as well. And finally, taking a look at the Ark Innovation components as a leading indicator, well, it's kind of a mixed board. We got Tesla up that we talked about before. Spotify coming off a really heinous-- excuse me, heinous loss from yesterday. We can look at the two-day on that, just bouncing back ever so slightly, guys.

EMILY MCCORMICK: All right, Yahoo Finance's Jared Blikre, thank you so much for that breakdown.