Tech and cyclicals lead US stocks lower as economic clouds gather | Forexlive

Closing changes for North American equities:

• S&P 500 down 10 points, or 0.25%, to 4090
• Nasdaq -1.1%
• Russell 2000 -1.0%
• DJIA +0.2%
• TSX Comp -0.5%

There are some big divergences today with cyclicals and tech lagging. Tesla fell 3.8% and was a drag on the index. Defensive stocks continue to perform well. One that has me worried is equipment-maker John Deere, which is down more than 10% in the past two days. That’s a classic worrisome sign for global growth. Combine it with falling Treasury yields and it’s not a pretty picture.