10-Year T-Note Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Monday closed down -1.70%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.78%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -2.10%.
U.S stock indexes on Monday settled sharply lower, with the S&P 500 posting a 2-month low, the Dow Jones Industrials dropping to a 3-month low, and the Nasdaq 100 falling to a 1-month low. Stock indexes tumbled Monday on concern about contagion from the debt crisis at developer China Evergrande Group.
Also, stocks were also undercut by uncertainty about the U.S. debt ceiling situation after Treasury Secretary Yellen said the U.S. government would run out of money to pay its bills sometime in October without action on the debt ceiling. Ms. Yellen warned of “economic catastrophe” unless lawmakers take the necessary steps. The stock market is also worried about whether the FOMC at its meeting on Tuesday and Wednesday will indicate that it is moving closer to... Read more