Market Update

A recent rebound attempt has been countered with renewed selling, forcing both the Nasdaq and S&P 500 to new morning lows. Meanwhile, the Dow is testing the depths that it set about 40 minutes ago. While stocks are sliding, the greenback is garnering additional buying interest. The currency has climbed to a new morning high for a 0.6% gain against a basket of major foreign currencies. Most of its move has come against Japan’s yen, which has fallen 1.1% so that it trades at 78.4 yen per dollar. The move follows news that Japan’s central bank has expanded the size of its asset purchase program. Meanwhile, the euro is down just 0.2% against the greenback at $1.31.

Market Update