S&P 500 closes in bear market territory, bond markets move higher

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Yahoo Finance’s Ines Ferre joins the Live show to discuss stock market performance ahead of Tuesday’s FOMC meeting.

Video Transcript

RACHELLE AKUFFO: And just minutes away from today’s closing bell. It can’t come soon enough. Let’s get over to Yahoo Finance’s Ines Ferre with the update.

INES FERRE: And Rachelle, the S&P 500 is set to close in bear market territory. Let’s take a look at our YFi board right now. We’re looking at the S&P 500, down 3.93%. The NASDAQ composite down 4.7% as we go into this final minute of trading. And the Dow is down almost 900 points. I do want to point out a route that we’ve been seeing in the bond market. We are looking at the five-year T-note up 22 basis points at 3.48%. That’s above the 10-year note, which is at 3.37%.

Also, looking at the US Dollar Index, it is at a 20-year high. And seeing the sector action, all 11 sectors of the S&P 500 are in the red, with energy down the most, as followed by real estate and communication services. And over on the NASDAQ 100, only one stock right now set to close in the green, the rest heavily in the red. And over on the Dow, we’re watching McDonald’s is the lone green today, up about half of a percent. The rest of them are in the red.