Stock Market Update

[BRIEFING.COM] The major indices opened to losses amid ongoing angst about US trade policy. The Dow Jones Industrial Average is more than 300 points lower, the S&P 500 shows a 0.6% decline, and the Nasdaq Composite trades 0.8% lower. The market is also digesting the February Personal Income and Spending Report, which showed an increase in the Fed's preferred read on inflation (the core-PCE Index). 

Just about everything is coming along for the downside ride, led by heavily weighted stocks like Apple (AAPL 223.18, -0.63, -0.3%) and Microsoft (MSFT 387.44, -3.14, -0.8%). Nine of the 11 S&P 500 sectors are lower including consumer discretionary (-1.5%), communication services (-1.1%), and financials (-0.8%).

A short time ago, the University of Michigan Consumer Sentiment survey showed a declined to 57.0 in the final March reading (Briefing.com consensus 57.9) from 57.9. Selling increased in stocks in response and buying increased in Treasuries.

The 10-yr yield is at 4.29% and the 2-yr yield is below 4.00% at 3.95%.