S&P Tumbles As Nasdaq Falls Into Correction Territory

Navigating another gap-up open.

Our View

The Nasdaq closed down 1.1% and finished yesterday's session 10.7% below its closing high set in November and is down 8% year to date. 

Despite the bond market closing higher and the yield on the 10-year note falling to 1.826%, it was not enough to stop the Nasdaq from falling into negative territory. Gold futures climbed 1.7% up to $1,843.20 and…