Lower opening for the major indices. Dow Industrial Average average continues its tumble

As the US stock trading is underway, the major indices are opening lower. The Dow industrial average continues to be the weakest. Since peaking at 40,003 eight trading days ago, the sellers have taken the price lower and lower. The low price today reached 38068 – nearly 2000 points lower. That is a decline of over 4.6% from the all-time high close.

A snapshot of the market 7-minutes into the open is showing:

• Dow industrial average -322 points or -0.84% at 38113
• S&P index down -18.54 points or -0.36% at 5248.10
• NASDAQ index down -73 points or -0.43% at 16846.56

The small-cap Russell 2000 is trading higher as yields or lower today. The index is currently up 14.10 points or 0.69% at 2050.49

Looking at the US debt market, yields are lower across the board after rising yesterday and the 2-year yield approached 5.0%:

• 2- year yield 4.939%, -4.6 basis points
• 5-year yield 4.584%, -5.7 basis points
• 10 year yield 4.563%, -6.0 basis points
• 30-year yield 4.93%, -5.1 basis points

This article was written by Greg Michalowski at www.forexlive.com.