Dow FALLS 512 Points Today. Mortgage rates Dive Low.

MARKET WRAP: WOW!

What a day in the markets today as Stocks plunged on fears of another recession due to weak economic data and as sellers said, “Get Me Out!” The Dow Jones Industrial Average fell 512.76 to end the session at 11383.68 down 10.5% from just July 21 and sending the Nasdaq, S&P 500 and the Dow into negative territory for the year. The S&P fell 60.27 to 1200.07 while the Nasdaq dropped 136.68 to 2,556.39. The 4% coupon jumped 81bp to end at 103.50. We will be switching our focus to the 3.5% in the next few business days. Oil was last seen in after hours trading down $5.48 to $86.45/barrel. Tomorrow’s Jobs Report sees 84K new jobs created in July and will be reported at 8:30am ET.

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