It was a nasty day for stocks on Wednesday, with the S&P losing 4% while the Nasdaq dropped nearly 5% as another batch of worse than expected retail earnings had folks taking profits. Asia markets fell overnight while Europe indexes are also in the red this morning. U.S. futures are pointing to a lower open as I write this, the Dollar, Yields, and Oil are lower while Gold is higher.

Markets rallied on Tuesday, with the S&P and Nasdaq both closing up over 2% with stronger than expected retail data and news that the Covid lockdown in China will soon be ending providing the catalysts. Asia markets closed mixed overnight while Europe stocks are in the red this morning. U.S. futures are pointing to a lower open, the Dollar, Yields, and Oil are higher while Gold is lower.