Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets.

Hello and welcome to the Tuesday, D.C. today we had the fifth day of the last six days that the Dow was down today, down 175 points on the Dow,

which is about half a percentage point. So continuing a little bit of a market sell off. The S&P was down a

little over a quarter of a percent. And then the NASDAQ was basically flat, up six basis points. Very weird action in the NASDAQ was basically flat up six basis points.

Very weird action in the NASDAQ, by the way.

You know, it was barely up a little today.

It was up over one and a half percent yesterday.

And yet you had 67 percent of the stocks in the NASDAQ down yesterday.

So when you start getting that weakness and breadth and yet positive price action,

it's just really getting top heavy and it normally doesn't bode well.

But that's just kind of a distortion in the market that we've seen as some of the larger

cap names have done this disproportionate contribution into index performance.

What else was of note today?

Both utilities and real estate were the leading performers up about 28 basis points each. And then you had financials were the biggest

drag on performance. But nothing was down a whole lot. Speaking of financials, which are more

impacted by the yield curve than most other sectors, the yield curve's inversion has come all the way down to 69 basis points.

Now, understand, that still means that the two-year Treasury is offering a yield that is 69

basis points higher than the 10-year, but that inversion had been about 120 basis points.

And so you've definitely seen some narrowing of the inversion,

but nevertheless still in inversion.

The Chinese won, there is absolutely no question that policymakers are intervening to try to defend the one.

It's been selling off.

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