The S&P 500 Index ($SPX) (SPY) today is down -0.19%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.16%. March E-mini S&P futures (ESH25) are down -0.20%, and March E-mini Nasdaq futures (NQH25) are down -0.15%.
Stock indexes gave up opening gains today and turned lower on fears of stagflation in the US economy after manufacturing activity last month barely expanded and the ISM prices-paid index soared to a 2-1/2 year high. Stock indexes are also under pressure due to the weakness in the Magnificent Seven technology stocks. Nvidia is down more than -4%, Amazon.com is down more than -1%, Microsoft is down -0.6% and Apple is down -0.2%.
