S&P down 1% in early trade as yield curve inverts, EU data disappoints
2019-03-22 09:59:28
The major averages opened lower and are gaining some downside momentum in early trading following a raft of downbeat economic data from Europe and an inversion in the yield curve in the U.S. Additionally, Markit's manufacturing PMI for March fell 0.5 ticks to 52.5 for its lowest print since June 2017 and Markit's flash services PMI fell 1.2 points to 54.8. About 30 minutes into trading, the S&P is down 28 points, the Dow is down 279 points and the Nasdaq is down 89 points.