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Information is incorporated there. Im keeping an eye on relationships between stocks and bonds. Bonds have vastly outperformed you can see the chart in the bond mark ket index. A lot of chatter about how Pension Funds will have to rebalance out of bonds into stocks to keep ratings consistent whether yesterday was a front running of that activity or whether by the way individuals may now use it as an occasion to say my allocation is out of whack because stocks are smaller, that is something we can watch perhaps play out on over the next few days mike santoly, thank you that sets us up well for our first discussion, market panel of the day well start with market action, another volatile trading session so far good morning andrew, ill start with you, how are you advising clients right now . Especially given the fact we are coming off the dow having the best day in 80 years, but historically weve seen these moves on a singlef day basis ....
2,255 points. Right now we are down 2,003 points. At 1 00 p. M. , money started fluttering down, the Federal Reserve making a move to support the bond market amid the coronavirus collapse. The s p 500, by the way, had been down 240 points and of course, we had 689 points getting slashed off the nasdaq. Right now the s p is down 219 and as we look at the nasdaq its down 619. Despite the feds move, the s p and nasdaq joined the Dow Jones Industrials in a bear market. This as the 11year bull market is officially about to come to an end. The selloff kicked in pretty much right at the open and five minutes in, triggered once again for the second time this week the Circuit Breakers that halted trading for 15 minutes. Lets show you some metrics here. The oil patch. Take a look at this. It is playing a huge role in thi ....
Driving the action first and foremost of course the heightened fear about the coronavirus. More countries go into lockdown as the steady spread of cases continues. The fed made a dramatic move cutting rates to zero and announcing new assets. And the economic slowdown with weak manufacturing data this morning from both china and the u. S. As we just said we are down about 9 on the dow. The low of the session was down 12 or 2,800 points. The dow is down about 31 from the recent market highs as we stand with just under we have every angled covered for you. Lets drill down on the selloff Mike Santelli at the market dashboard and lets begin with bob on the floor of the exchange. Trading halt this morning, 15 minutes right after the market opened our third trading halt in the last six sessions. Look at the s p 500. Our low is just a tad above 2,400. So well off of that number everybody down here waiting to see what if anything the presid ....
That steep selloff after the fed surprise move, reversing today, at least for the moment its holding the Dow Jones Industrial is good for a 2 gain at this moment s p is holding above 3,000 1. 75 . Nasdaq up by 1. 5 . The question today, i want to know the answer to, joe, is, where are we what does this action tell us about whether weve hit a bottom or not or is this a process thats going to take more time its absolutely a process thats going to take more time this process began january 17th. On january 17th, the u. S. Ten year was 184 the u. S. Tenyear fell january 31st to 1. 50 the market at that point was telling us exactly where we are right now. Now i understand 95 basis points and what i left on february 12th, u. S. Tenyear was 1. 63 were going to take the lead from where the u. S. Tenyear goes you need to see the correlation between a lower yield and lower stock prices begin to break down i think whats incredibly relev ....