Nora Melinda

Of course, Trump talking about this on Truth Social.

So we are seeing a reaction across the markets.

I'm looking at the S&P 500 down for its third straight day.

We see it currently sliding by about 0.5%.

But what's also interesting is that I'm seeing consumer staples and consumer discretionary as some of the best performing areas in the S&P 500.

But what's on the downside right now is materials and information technology.

So as we continue to keep our eyes on this tech space, we are seeing them taking a bit of a beating today, of course, for various reasons that are also outside of that.

That's what I'm hearing from my sources.

But of course, we're really keeping our eye on to our treasury yields, Caroline.

I've got my eyes on.

On the policy sense of two-year, of course we're seeing this sitting around 3.5% when we look at that treasury yield there, but the 10-year sitting around 4.2%.

So we are seeing a bit of a reaction as we look at the bond market and as we're seeing a bit of a mixed picture there.

But crypto, that's really an area that I've been keeping my eye on because it tends to be a speculative space right now.

If we look at Bitcoin, of course, we've been seeing a bit of a breather there.

But as we look at some of the action that we've been seeing in this space more broadly, I mean, we see that Bitcoin is trading near a two month low, especially if we continue to see the slide, a lot of outflows coming out of the ETFs that we see in the Bitcoin space.

And that's only adding to the deepening volatility.

exposure that we're seeing today as people are really trading off of that speculative area as we're really digesting what's going on with this new Fed chair.

We're seeing a lot of whipsawing in the market and a lot of conversation here about a potential AI bubble.

But when you think about valuations from the S&P 500 more broadly, we haven't even seen a 5% decline in the S&P 500 since April.

So we do have folks over at Truist Securities really talking about the fact that maybe this is time for a correction because this is a longer period than we've seen opposed to normal here as we haven't seen a correction here for the broader market.