The major stock market averages gapped down at the open after news that US-China trade talks are breaking down. The Dow is currently down 220 pts and the SPX is down .95%. Consumer discretionary, industrials, tech and materials sectors are all down more than 1%. The VIX Index spiked briefly to 19 before falling back to 16. WTI crude oil dipped slightly to $61.60/barrel. The US dollar strengthened and gold is modestly higher today. Bonds are trading higher (except for junk). The 10-year Treasury yield fell back to 2.48%.
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