The major indices are being pushed down by folks that have tried to derail the market since the rebound began. The Dow, S&P 500 and Nasdaq are down 5.1%, 4.6% and 3.4%, respectively.
Despite the broad sell-off, there were a few bright spots. Stocks like Netflix (NFLX), Zoom Video (ZM) and DocuSign (DOCU) are trading higher 0.77%, 2.75%, and 1.17%, respectively.
All sectors are in red this afternoon.
S&P 500 Index | -4.60% |
Communication Services (XLC) | -3.27 |
Consumer Discretionary (XLY) | -3.63 |
Consumer Staples (XLP) | -2.30 |
Energy (XLE) | -7.30 |
Financials (XLF) | -6.19 |
Health Care (XLV) | -4.08 |
Industrials (XLI) | -5.10 |
Materials (XLB) | -6.24 |
Real Estate (XLRE) | -5.23 |
Technology (XLK) | -3.56 |
Utilities (XLU) | -3.67 |
While Breadth is decidedly negative on the Nasdaq, new highs are clearly in control of the new lows.
Issues: | NYSE | NASDAQ |
Advancing | 104 | 242 |
Declining | 2,878 | 3,079 |
52 Week High | 7 | 21 |
52 Week Low | 4 | 8 |
Up Volume | 115.71M | 496.58M |
Down Volume | 3.18B | 2.16B |
On the economic front, Food prices rose 0.7% in May, driven mostly by a 3.7% increase for meats, poultry, fish and eggs. While food prices surged, the overall U.S. inflation rate for the past 12-month was 0.1%.
Grocery prices rose by 4.8%, reflecting a scarcity of some goods in high demand, as well as meat and poultry shortages. The so-called food at-home index soared 4.8% in the past 12 months, the highest rate in more than eight years. Food-away-from-home spending rose by 2.9% in the past year.