Oct 14 - The First Hour

The retracement in the markets has happened more quickly then I anticipated, with Techs leading the downward turn. Here are the numbers so far:

Dow -.7%
S&P -.8%
Nasdaq -3%

VIX +3%
Crude -.9%
USD -.7%

Financials for the most part are holding onto this mornings gains, although JPM, BLK, USB, and PNC have all turned negative, with losses ranging from 3 - 8%.

Ag stocks (POT, MON) have also gone negative into the late morning. Trading in the Energy and Oil sectors is split, as crude, although slightly negative, appears to be heading for a flat day.

JNJ is holding onto most if its gains after better then expected 3Q results. This news is boosting most of the Pharma sector as well.