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Dow Jones comes under further pressure as US yields rise
The rotation noted here earlier in the US stock markets was delivering a move lower in the Dow Jones at the same time as the tech sector and the Nasdaq 100 moved off its opening levels. Well, that rotation has extended further and it is still the Dow Jones that is struggling. The much better than forecast US ISM report which has sent US yields rising is also toxic for the Dow Jones it seems right now. The index has now fallen to below 39,600 and it is approaching the 39,575 level as this update is being written. That is quite some way below the 40k level and it remains to be seen, if the index can brush aside this higher yield dynamic. Right now it sure is struggling to bat that away.
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