Stocks were down across the board, with the NASD 100 notably down 4.77%. The equal weight S&P 500 is down 0.52% month to date.
The Tech sector was down the most on the day, 5.78%.
The Consumer Staples sector was up the most on the day, 1.64%, which looks defensive against a possible coming recession. The Utilities sector was up half that.
The U.S. 10Y yield rose to 4.55%, and the 20Y and 30Y yields rose above 5.00. YTD return for VUSUX is now down 0.85%.
Oil retreated 3%.
Metals were down across the board, silver down over 8%.
Crypto was down across the board, too, with Bitcoin falling below $60k.
But DXY climbed! +0.658 to 100.071.
The theory is investors are upset that today's "strong" jobs numbers (the 70k hospitality hires is probably World Cup related, a one off, so forget that) indicate easy money from the Fed is now absolutely out of the question, and maybe even a rate increase is coming because the economy is running too hot, which is silly with 1Q GDP at 1.6% annualized. CNBC called that "solid" lol.
Jokers say everyone's just raising cash to buy overpriced SpaceX in its IPO next week.
Investors are taking profits ahead of SpaceX IPO, says Capital Wealth’s Kevin Simpson
SpaceX is worth less than half of its $1.75 trillion IPO target, Morningstar says
