Dow Jones takes a hit on the opening

The Nasdaq 100 has opened lower, as just noted in the previous update, but that has fallen little by comparison to the early price action playing out right now in the Dow Jones. The Dow looks like it is tracking the European stock indexes a lot more closely than the tech sector just now and hence there is rotation in play once again. Right now that is to the detriment of the wider market and the Dow, but as we saw many times again yesterday, that could chop and change frequently until the close this evening. So, the Dow Jones officially reopened today at 38,795 and fell immediately to a low at 38,567. In truth it would have been impossible to sell any at the opening level. The Dow Jones is currently trading lower than that as it slips to fresh session lows at 38,541