Stock market sold off on:
SP500 rejected 4,000
Recession fears fueled by JPMorgan Chase $JPM CEO Jamie Dimon, Walmart $WMT CEO Doug McMillon, and Union Pacific $UNP CEO Lance Fritz on @CNBC
In CNBC interviews this morning JPMorgan Chase (JPM ) CEO Jamie Dimon said that he thinks a mild to more pronounced recession is likely ahead, Walmart (WMT) CEO Doug McMillon reiterated that the low-end consumer is still feeling pressure, and Union Pacific (UNP) CEO Lance Fritz said the economy and consumer are slowing.
Inversion along Treasury yield curve deepening. The 2-yr note yield is up two basis points to 4.40% while the 10-yr note yield is down three basis points to 3.57%.