Market check: Stocks sink, Treasury yields fall as recession fears flash

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

Video Transcript

BRIAN SOZZI: Ines, I see you at the board. I'm so far away.

INES FERRÉ: You are so far away, Sozz. But let's take a look at the markets right now. And what we're looking at are parts of the markets that are flashing sort of these recession fears. So we are taking a look at the bond market right now, we're looking at the five year treasury that's down eight basis points. You've got the 10-year note yield that's down eight basis points at 2.81%.

Also looking at the US dollar index of 106 right now, above 106, this is a 20-year high. We're also taking the euro against the dollar, and that is at a 20-year low right now. We are also seeing WTI Brent Crude that's also lower as you've got the stronger dollar and concerns about demand going forward, if there is a recession. So we're watching WTI, down almost 5%.

Taking a look under the hood at equities. We are seeing that all 11 sectors of the S&P 500 are all in the red. You've got materials and energy, which are leading to the downside. Over on the Dow, I just mentioned, also industrials is also one of the ones that are also leading to the downside. Boeing down 6%.

And we are looking at the NASDAQ 100. And you're seeing the mega caps quite a bit of red here on the screen. And you've got Tesla that's down 4%.

I do want to mention the energy stocks because that's been also one of the big laggards. Occidental Petroleum, we've been watching this one, down more than 3%. Berkshire Hathaway buying more shares of Oxy, increasing Berkshire Hathaway's stake of Oxy to 17.4%. And even though today is a down day, we are still looking at year to date, Oxy is up 100% year to date. Brad.

BRAD SMITH: Really great breakdown as always there. Ines, appreciate it here.