Stock Market Update

[BRIEFING.COM] The market opened to broad selling interest. The Dow Jones Industrial Average is more than 600 points lower than Friday, and the Nasdaq Composite trades more than 300 points lower. The market-cap weighted S&P 500 sports a 1.5% decline and the equal-weighted S&P 500 shows a 1.6% decline.

All 11 S&P 500 sectors are lower led by consumer discretionary (-2.1%). The financial (-1.6%) and information technology (-1.6%) sectors are among the influential losers. Ten sectors are lower by more than 1.0%.

On an individual basis, Boeing (BA 172.85, -7.87, -4.4%) is a losing standout after a Jeju Air crash on Sunday killed 179 people, which prompted South Korea to order an inspection of all 737-800 planes and the country's entire airline operation system, according to CNBC.

Treasury yields are lower. The 10-yr yield is down seven basis points to 4.55% and the 2-yr yield is down seven basis points to 4.26%. 

The Chicago PMI dropped to 36.9 in December (Briefing.com consensus 42.7) from 40.2 in November.