Stock Market Update

[BRIEFING.COM] Market internals reflect the shift in tone during the afternoon trade. Earlier, advancers led decliners by a better than 2-to-1 margin at the NYSE, but now decliners hold a nearly 7-to-6 lead over advancers. Breadth is still positive at the Nasdaq, but the lead advancers hold over decliners has shrunk to a roughly 6-to-5 margin versus better than 2-to-1 earlier.

The Vanguard Mega-Cap Growth ETF (MGK) had been up 1.5% at its earlier high. It gave up all of that decline in the afternoon and had been down 0.2% before rebounding to its current level (+0.2%).

This rebound has helped stem the decline in the broader market, which began picking up steam around 12:30 p.m. ET.

The S&P 500 information technology sector (+0.5%) is still today's best-performing sector, but it has relinquished a good portion of the 1.9% gain seen earlier.

Notably, the 10-yr note yield continues to advance in price on what can be attributed to safe-haven positioning and an emerging embrace of growth concerns. The 10-yr note yield is down five basis points to 4.25% today, leaving it down 30 basis points for the month.