Stock Market Update

[BRIEFING.COM] The major indices have managed to recoup a decent portion of their opening losses, as a clarifying statement from a White House official earlier in the session calmed the market's excitable mood.

Specifically, a White house official told CNBC that the president's recommendation for a stright 50% tariff on the EU should be viewed as negotiating leverage and that the stock markret overreacted to the initial comment, adding that nothing has been inplemented yet.

That clarification seemed to calm the Treasury market's excitable state, too. 

Nonetheless, the indices continue on track for a losing week with losses in the range of 1.9% to 3.3% for the major indices.