The markets sold off aggressively today as investors become more and more concerned that the trade war is something that won't be coming to a resolution any time soon. In addition to this there was more news of new companies that will be discontinuing business with Chinese phone maker Huawei.
The Dow 30 sold off 286 points, the S&P 500 sold off 33 and the Nasdaq closed the day lower by 122. Investors noted the sharp uptick in treasury prices sending the 30 year yield back to lows for the year.
Sector wise the semiconductors continue to sell off, breaking below the 200 day moving average as investors take risk out of the sector on all this news. The sector is now lower by over 20% on the year. Utilities were one of the best performing sectors today and is the sector with the largest gain week over week. The
Staying with the retail space, Limited Brands
Going into Friday and a holiday weekend, it is hard to see why investors would want to put on risk with this brewing uncertainty.