Stocks are selling off.
At the halfway point of Thursday's US trading session, the Dow was down 220 points, the S&P 500 was down 26 points, and the Nasdaq was down 75 points. At a loss of 1.6%, the Nasdaq was logging the largest percentage losses. The small-cap Russell 2000 index was also lower, falling 16 points, or 1.4%.
Apple is among the big losers on Thursday, with shares of the iPhone maker down almost 3%.
Dave Lutz of JonesTrading just circulated an email giving a quick overview of some things traders are looking at, writing that it seems like a "perfect storm of headlines — most them 'well known' — but the Holiday conditions accelerating fears."
Via Lutz, here are eight things that traders are watching during Thursday's big sell-off:The S&P 500 broke below its 50-day moving average, and there is chatter about a large "institutional player" exiting positions in nearly 200 different stocks. Growth concerns are taking copper, silver, oil, and bond yields lower. There is "major hedging" in futures contracts due after a large broker was sold a block of HYG, the ETF that tracks high-yield bonds. "Chatter of a big fixed income sell program." The Yen is climbing due to concerns over Japan's Government Investment Pension Fund. Rumors that a hedge fund is in trouble, with media companies SFX Entertainment, Media General, Nexstar Broadcasting, and Gray Television falling. Terror concerns. A breakdown in commodities.
So there's that.
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