The S&P 500 Index ($SPX) (SPY) today is down -0.36%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.16%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.57%.
US stocks today are moving lower, with the Nasdaq 100 falling to a 1-1/2 week low. Higher T-note yields today are weighing on stocks. Also, weakness in chip stocks is undercutting the overall market. In addition, some negative corporate news is undercutting equities. Paramount Global is down more than -5% after Bronfman Jr. dropped out of a bidding war for the company. Also, Cava Group is down more than -7% after the company’s largest shareholder, Artal International S.C.A., filed to sell 6 million shares. In addition, American Woodmark is down more than -11% after reporting weaker-than-expected Q1 net sales.
