Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (-0.72%) is the "best" performing major average, down only 300 points, as more aggressive losses are had elsewhere -- Nasdaq -1.6%, S&P 500 -1.1%.

A look inside the DJIA shows that IBM (IBM 246.14, -6.83, -2.70%), Walmart (WMT 85.79, -1.67, -1.91%), and Amazon (AMZN 192.00, -3.74, -1.91%) are underperforming.

Meanwhile, Verizon (VZ 44.14, +0.49, +1.12%) is today's top gain getter.

The DJIA is now down -5.25% month-to-date.

Elsewhere, recent action saw the 3-yr note and longer tenors rise to fresh session highs while the 2-yr note is on the verge of doing the same. The uptick to highs took place after the U.S. Treasury conducted this week's sole note and bond offering, reopening $13 bln in 20-yr bonds. The sale met strong demand, as the high yield (4.632%) stopped through the when-issued yield by 1.4 basis points while the bid-to-cover ratio (2.78x vs 2.60x average) was comfortably above average. Indirect takedown (68.8%), however, a bit below the average seen at the previous 12 auctions (70.2%).