Stock Market Update

[BRIEFING.COM] The three major indices pulled back from session highs as Treasury yields moved sharply lower.

The 2-yr yield, at 4.04% about 30 minutes ago, dipped below 4.00% to 3.99%. The 10-yr yield moved to 4.22% from 4.25% in recent trading. 

The move occurred shortly after the release of the latest Atlanta Fed GDPNow forecast, which estimates that Q1 GDP will decline 1.5% versus the prior estimate of 2.3% growth.

Market participants also continue to weigh risks over tariffs after news that Canadian and Mexican officials are meeting with President Trump's cabinet officials in attempt to avoid tariffs. Mr. Trump wants to see fewer fentanyl American overdoses and it is still more likely than not that tariffs take effect Tuesday, according to CNBC.