Stocks fall further


Major indices are in the red this morning, continuing a slide that began on Monday. Hardest hit is the Dow Jones, down more than 1% on the day. The trigger may have been worries over Apple (AAPL), down 0.8% after reports that the tech giant has cut production of the iPhone X in half. Micron (MU), down 3.1%, and Applied Materials (AMAT), down 3.4%, are also being hit hard.

At present, the S&P 500 is down 1.02%, the DJIA is down 1.3%, and the NASDAQ is down 0.83%. West Texas Intermediate crude is trading at $64.43. Bitcoin is at $10,390 on Bitstamp.

Industries doing well today include healthcare technology, construction materials, and household products. Industries showing weakness include healthcare providers, independent power, and biotechnology. The VIX is up 6.65% to 14.73 after closing on Monday at 13.84. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 26,922 March-16 290 on the board. The total put/call ratio as of 10:00 AM was 0.91 (483,558/437,754). The advancers/decliners ratio for NYSE stocks is 576/2,402 while the advancers/decliners ratio for NASDAQ stocks is 739/2,185.

Julian Close

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

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