Stock Market Update

[BRIEFING.COM] The major indices hit fresh session lows in recent action, extending their sizable losses. The S&P 500 shows a 2.1% decline and the Invesco S&P 500 Equal Weight ETF (RSP) shows a 0.8% decline. 

Value stocks are holding up better than growth stocks in today's broad retreat. The Russell 3000 Value Index shows a 0.4% decline and the Russell 3000 Growth Index trades 3.3% lower.

Treasuries remain near intraday high yields following relatively weak demand at today's 5-yr note auction. The 2-yr note yield was at 4.39% before the auction and sits at 4.42% now, which is six basis points lower than yesterday. The 10-yr note yield was at 4.23% before the auction, but sits at 4.29% now, which is five basis points higher than yesterday's settlement.