The S&P 500 index dropped to a fresh low of 2,628.16 in intraday trading today (down over 10.6% from the intraday high on 9/21/2018, which was nearly reached again on 10/3/2018), led by a colossal decline in the market cap of Amazon following disappointing guidance for 4Q revenue this year. Asian markets also continued to fall.

With odd macroeconomic numbers (see especially, the 9.1% increase for imports with businesses attempting to beat the clock on rising tariffs) being reported by the BEA in its initial 3.5% figure for annualized 3Q real GDP growth, the yield on 10-year USTs dropped below 3.06% in intraday trading today for the first time since Tuesday, October 2. This was also reflected in the PCE growth of only 1.6% reported for the 3Q, reducing expectations for future nominal GDP growth.

CNBC: “Microsoft overtakes Amazon as second-largest company by market value” (Amazon erased $68.1 billion in market capitalization Friday as investors punished the popular e-commerce company … Bezos himself lost $11 billion in equity value Friday)
CNBC: “The FBI is reviewing Tesla’s Model 3 production numbers as part of a criminal probe: WSJ”
CNBC: “Fingerprint leads to federal charges against Florida man Cesar Sayoc for bombs sent Obama, Clinton and other Trump critics”
NYP: “How the FBI caught suspected mail bomber Cesar Sayoc Jr.“