Stock Market Update

[BRIEFING.COM] The S&P 500 (-2.1%), Nasdaq Composite (-2.8%), and DJIA (-1.5%) steadily chart new session lows in what has been the single worst day for the S&P 500 since the announcement of sweeping tariffs in early April.

Crude oil futures settled today's session $2.48 lower (-4.0%) at $58.94 per barrel as concerns around higher tariffs between the U.S. and China threaten the global growth outlook. 

The major averages all hold losses of 1.5% or wider, and today's retreat wipes out the week-to-date gains of all but the consumer staples (+0.3% today, +0.6% WTD) and utilities (-0.1% today, +1.8% WTD) sectors.